Chinese Hisense became the largest Slovenian exporter
Production lines are busy at the Hisense factory in Velenj in north-eastern Slovenia, as demand for its household appliances in Europe is steadily growing.
Hisense, a large Chinese multinational manufacturer of appliances and electronics, has a five percent share of the European market, but the company has set itself higher goals for the near future.
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“Europe is a big market with a lot of potential,” Jianmin Han, president of Hisense Europe, told CGTN. “Our goal is to reach 10 percent of the market in three years, by 2025 [share] in two segments to truly become a second-tier brand in Europe.”
The Chinese giant of household appliances established itself as the largest Slovenian exporter and far outstripped the other major exporters in the country, such as Renault and some local domestic pharmaceutical companies.
Many did not expect these results in 2018, when Hisense took over the Slovenian manufacturer Gorenje. Founded more than 70 years ago in the former Yugoslavia, Gorenje produced and exported household appliances throughout Europe.
But five years ago, fierce competition forced the Slovenian government and the shareholders of Gorenje to decide whether to integrate it into a larger system or leave it on the path of slow and inevitable collapse.
They decided to invite the Chinese Hisense to buy Gorenje, with which they want to give the company and the community a new impetus.
Hisense provided thousands of jobs in Slovenia and won over the public. /CGTN
Hisense provided thousands of jobs in Slovenia and won over the public. /CGTN
And since then, Hisense managed to turn a potential economic disaster and burden for the Slovenian government into, as some say, an economic miracle. Even skeptics admit that it has turned out to be a success story.
Matej Lahovnik, former minister of economy and professor of economics, was initially not impressed with Hisense’s takeover of Gorenje, but then changed his mind.
“In the end, it seems that this takeover will be very successful. The environment in Slovenia is not very favorable to foreign direct investment. At the beginning, the public is usually very skeptical, and that was also the case with Hisense,” explained Lahovnik.
In 2021, its exports reached 2 billion dollars, and even higher figures are expected in 2022.
Hisense provided thousands of jobs in Slovenia and won over the public. And with rising wages for the company’s employees, the future looks even brighter.