Eastern parts of Slovakia is considered a less wealthy part of the country, with Kosice as the biggest city of the region. A heavy, iron and steel industry was a trademark of the city for over half a century.

But things might take a serious turn soon for the entire area and its citizens.

The contract between the Chinese Geely-owned automotive brand and the Slovakian government was signed this July in the Slovakian capital Bratislava.

"It is a great joy to build our third factory in Europe here in Slovakia," Javier Varela, COO and Deputy CEO of Volvo said after the contract signing.

"The last time we opened a European factory was in 1965. I don't need to emphasize this is a milestone for our company while expanding our production capacities. This new, most modern facility will be carbon neutral and will build only electric cars."

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The fields of the village of Valaliky, close to Kosice, will soon become one of the most important construction sites in Slovakia. The village itself can expect big changes as construction is set to start early next year.

It's projected that the factory will create 3,300 new jobs, with mass production starting in 2026. The outlook has Kosice mayor Jaroslav Polacek very excited about the future of his city.

Polacek told CGTN: "I don't think that many people from Kosice understand how perfect this investment is. I am trying to explain to them that it would be like in the 1960s when the steel mill came.

"Kosice was completely changed in the next 40-50 years. I am trying to explain to the people that the change will come, not just by creating jobs. But also in the city's growth, the culture, and establishing the city as a regional leader."

Change is also coming to one Kosice vocational secondary school. Its students learn about the skills needed to work in the automotive industry. After decades of training based entirely on internal combustion engines, the time has come to shift the focus.

"Now the school prepares the students, especially for the car repair service skills that are focused on 'old or classic cars', running on fuel like diesel," said Jana Vargova, Director of Vocational Secondary Automotive School in Kosice.

"But we cannot forget the electric cars, right here, in the next two months, a new classroom for electric mobility will be built, and a part of our students will be specialized in this segment."

So, nearby employment opportunities will await many of these students when they finish their education here. In a factory where parts like engine pistons and crankshafts don't exist, as they are no longer needed for the cars of the future.

At this moment Slovakia, a country of about 5.4 million people, produces over one million cars annually in several factories around the country. With Volvo's new factory, that number should rise for about a quarter of a million.