Swiss company Mubea Engineering launched the construction of a new €51m plant for the production of car transmission components in Kežmarok. It plans to launch production in a year. The investment will create 500 jobs by 2024, of which 100 will be in product development. The government plans to provide €14m in investment assistance to the plant, mainly in the form of tax breaks. It will also provide €2m to the city for the completion of the local industrial park.