You are here
Home > News > All world’s automotive giants started with state support: Climate Min

All world’s automotive giants started with state support: Climate Min

All the automotive giants in the world started with state support, said Michał Kurtyka, Minister of Climate and Environment, commenting on the capital injection of PLN 250 mln (EUR 54.6 mln) for the company ElectroMobility Poland (EMP) – the manufacturer of the first Polish electric car Izera.

As an example, he listed South Korea or Japan, adding that Poland often follows them and wants to continue that trend. Mr Kurtyka stated these countries were able to establish their own automotive industry, which became “a growth lever for the entire state,” however, before that happened, the role of the state as the initial capital could not be overestimated.

He stressed that the EMP company must operate under market conditions.

“It already has a team of very high-class Polish specialists, it also attracts Poles from large global concerns dealing with electromobility, who see opportunities to implement the aspirations of the Polish automotive brand,” Mr Kurtyka said.

At the end of July 2020, the premiere of the Polish brand of electric cars Izera took place. The company ElectroMobility Poland then presented two prototypes of electric cars (SUV and hatchback).

On July 29, 2021, ElectroMobility Poland announced that it had signed an investment agreement with the State Treasury, under which the state will acquire new EMP shares. The company’s chairman Piotr Zaremba pointed out that the acquisition of additional funds should allow for the finalisation of business talks with key partners, starting cooperation with the platform supplier for Izera, and preparatory activities related to the construction of a factory in Jaworzno – where Polish electric cars are to be produced.

EMP was established in October 2016 and was an initiative of four Polish energy companies – PGE, Energa, Enea and Tauron, which each stumped up 25 percent of the share capital.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.