Teltonika Group received €20M for the construction of an electronics assembly plant in Vilnius

Teltonika Group received €20M for the construction of an electronics assembly plant in the Teltonika High-Tech Hill technology park in the Liepkalnis district of Vilnius. Swedbank, which operates in Sweden and Baltic countries, and SEB bank, headquartered in Sweden, lent Teltonika €10M each to implement the project. The plant will design and manufacture IoT products. 

The construction started in December 2023 and is expected to complete in the middle of 2025. Teltonika will invest €75M in the construction of the plant. 

According to Tadas Jonusauskas, the head of corporate banking at SEB Bank, the park is expected to export products in a volume of 5% of the country’s GDP over the next ten years. As it was announced earlier, apart from the electronics assembly plant, Vilnius Technology Park will host PCB factory, administrative offices, a data center, a plastic parts injection molding plant, chip assembly, testing, manufacturing buildings, commercial premises, and parking lots. 

Founded in Vilnius in 1998, Teltonika Group produces IoT devices, vehicle trackers, etc.