KG Law Firm Advises Wheels Car Rental System on Strategic Investment by Halcyon Equity Partners
April 2025
Our member firm Kyriakides Georgopoulos Law Firm acted as legal advisor to Wheels Car Rental System and founders Vassilis Devletoglou and Vana Papadimitriou in connection with the strategic investment in Wheelsys by Halcyon Equity Partners AIFM.
The transaction was led by Elisabeth Eleftheriades, Partner of Project Development and Startups & Innovation, Angeliki Chalikia, Counsel, and Angelos Charalampidis, Associate, who provided dedicated legal support and guidance throughout the process.
KG Law Firm would also like to warmly thank Haclyon’s legal advisors Lambadarios…
NNDKP Wins a Landmark Customs Dispute
November 2024
Our member firm, Nestor Nestor Diculescu Kingston Petersen, has secured a final favourable decision for an important manufacturer of components for automotive safety systems, in a customs dispute. The final decision issued by the Timisoara Court of Appeal confirms the company’s right to recover the customs duties paid based on incorrect customs declarations, marking a significant benchmark in the legal field.
The decision shows that customs duties can be reimbursed even if the goods are not physically available at the time of the claim, if there is conclusive evidence establishing…
Battery Development and Production Factory
June 2023
In June 2023, Ulu Motor, a subsidiary of Ulubaşlar Group which is a leading company in the automotive sector in Turkey, has signed an agreement with Chinese electric vehicle manufacturer, Skywell, on the opening of a battery development and production factory in Turkey. Initially, the factory will serve as the battery production factory for Skywell cars. There are further plans to establish a vehicle production line and spare part supply system and manufacture of vehicle parts.
In accordance with the agreement, the factory’s construction is expected to be completed in the first quarter…
Ford Otosan Investment
June 2023
In 2021, Ford Otosan has announced that an investment of EUR 2 billion will be made within the scope of the Kocaeli factories’ transformation, which are among Europe's largest commercial vehicle production bases, to produce electric cars. In February 2023, it is announced that a total investment of EUR 1.39 billion is planned to be made in the next five years. Within the strategic partnership between Ford and Volkswagen, Ford Otosan will produce the new generation of Volkswagen commercial vehicles model 1-ton in Turkey. With the investment, the Kocaeli factories aim to become Turkey’s…
Avesta Battery and Energy Engineering (ABEE) Plans EUR 1.4 Billion E-vehicle Battery Plant in Eastern Romania
May 2023
Belgian company Avesta Battery and Energy Engineering (ABEE) prepares to invest EUR 1.4 billion in Galati, the eastern part of Romania, to build an e-vehicle battery factory. Representatives of the Belgian firm announced that they would have a production capacity of 22 GWh per year and would also develop a unit for recycling electric batteries with a capacity of 50,000 tonnes per year.
Next E.Go Mobile Investment Update
May 2023
In July 2021, Memorandum of Intent for building an Electric Vehicle Plant was signed by and between the Bulgarian Government and German electrical vehicles manufacturer Next.e.GO Mobile.
It was announced that the new investment will amounts of EUR 140 million. Next.e.GO Mobile plans to start producing electric cars in the city of Lovech and to employ approximately 1,000 people. The company plans to produce its E.Go Life and E.Go Life Cross models in Bulgaria.
It was announced that the plant will be the first fully carbon neutral in Europe, producing the energy it will consume through…
China’s KSHG Auto Harness Set to Open Production Unit Near Simeria
April 2023
China-held KSHG Auto Harness will open a car parts production unit in industrial park CTPark II of Hunedoara, in Bacia locality, near Simeria. The investment is thought to generate 400 new jobs.
Turkey’s First Locally Produced Car
April 2023
In 2020, after years of waiting, the features and design of the car were introduced, which will be produced locally in Turkey. The construction of TOGG’s (brand name of Turkey’s first locally produced car) factory in Bursa with an investment cost of TRY 22 billion (EUR 934 million) has been completed and the factory commenced its operations on the Republic Day of Turkey, October 29, 2022. There are currently around 1,500 employees at the factory. It is expected that approximately 4000 more people will be employed at the factory in the future.
A total of five models will be produced…
Continental Plans New Investment in Sibiu
March 2023
Continental announced that it planned to make new a new investment in Sibiu (around EUR 180 million, which is comparable to its 2022 investment) to extend its facilities and purchase new equipment for its engineering centres and tire and electronic component factories.
Rombat Plans to Make a EUR 10 Million Investment
March 2023
Rombat, a local producer of car batteries, has planned to invest EUR 10 million in a new semi-automated line for manufacturing heavy-duty champion HD-FB batteries for heavy vehicles, as well as absorbent glass mat batteries for cars with start-stop technology. Additionally, a part of this investment will be used to develop two solar parks to optimize the company’s operational costs and make it more self-sufficient. The first solar park with a capacity of 4.2 MW will be co-funded by the authorities, under Romania’s National Recovery and Resilience Plan.
Armored Vehicles Plant in Bulgaria
March 2023
Leading producer of specialized armored vehicles International Armored Group (IAG) announced its intentions for building a plant in Burgas. The construction of the plant started in March 2023. The main production facility is expected to be finished in 2024.
The initial investment in the facility in Burgas is estimated at BGN 20 million (approx. EUR 10.2 million). It was further announced that the company is considering the possibilities of building plants in Plovdiv and Blagoevgrad, with the initial investment for each of the plants estimated at approximately BGN 25 million (approx.…
Optibelt Power Transmission Announces a EUR 11.7 Million Investment
March 2023
The German car parts manufacturer Optibelt Power Transmission, the local subsidiary of the German Arntz Optibelt group, has budgeted for this year an investment of EUR 11.7 million. The investment will focus on developing the power transmission plant located in the Maramures region.
