A steel maker is set to open its first production facility in the country, where it will sell metalluric infusers for electric cars.
The company, Metallurgy Infuser, will make its first electric vehicle infuser in the capital of the Jewish state, the Israeli newspaper Haaretz reported.
It is the latest in a series of announcements from Israel’s metalluring industry to expand into the country.
Last year, Metasurgic Infuser and its subsidiary Metasheen began making electric vehicle components for electric and plug-in hybrid vehicles.
In February, MetaMetallurgi also announced plans to expand production of electric vehicles in Israel.
The two companies also plan to open another factory in the next few years in the occupied West Bank, the newspaper said.
Metasurgi said that its electric vehicle component business is expected to reach about $40 million annually, and that it plans to build 500 units by 2019.
It said that it expects to raise another $40m through its third quarter of 2019.
Last week, Israel’s central bank, the Bank of Israel, said that the number of Israelis with a college degree or higher was at its lowest level in more than a decade.
