Yes it does.
From the Giants software website about mods in this game:
“With the launch announcement comes the exciting news of premiere level modding within the world of racing simulation: Thanks to the proven GIANTS Engine, the team confirms full mod support from day one, across all platforms.
Using the official GIANTS Editor, all user-generated content can be submitted through the in-game UGC-Portal, where every mod is tested by the developers before being made available for download. “Project Motor Racing taps into the same powerhouse modding ecosystem as Farming Simulator,” says Boris Stefan, CSO & Head of Publishing at GIANTS Software. “Racing modders will be able to tweak, tune, and transform their experience however they like.”