Lithuanian Teltonika will invest €96M in the construction of the technology park

Lithuanian Teltonika Group will invest €96M in the building of the technology park Teltonika High-Tech Hill in Vilnius. It can provide up to 700 new jobs in the region. The park will be used for engineering of microchips. It will also serve as an educational incubator for those who plan to work in the semiconductor industry. Later Tektonika plans to assemble a semiconductor chip factory. 

The second-stage technology park will be located in the 14-hectare area near Liepkalnis Street by 2029. In January 2023 Teltonika Group plans to sign a contract with the Taiwan Industrial Technology Research Institute for the acquisition and use of semiconductor technologies, developed by the Taiwan Institute. Taiwan will provide not only knowledge but its technologies and equipment. 

According to the founder of Teltonika Arvudas Paukstis, it would be also possible to produce new materials for electric cars, renewable energy and other future technologies in cooperation with the Taiwanese Institute. 

Teltonika Group was founded in Vilnius in 1998. It produces IoT devices, vehicle trackers, etc.