China’s car maker BYD Co Ltd signed a joint-venture agreement on Tuesday with a Bulgarian partner to build an auto assembly plant in the country. The 50/50 joint venture will largely manufacture electric cars and buses, said Alexander Usachev, chief executive officer of Bulgarian energy giant Bulmineral Ltd, Xinhua News Agency reported.
L-R: Chinese Ambassador to Bulgaria Guo Yezhou, Litex Motors owner Grisha Ganchev, Great Wall CEO Wang Feng Ying, Bulgarian PM Borisov, Bulgarian EconMin Traikov at the Litex Motors factory opening.
Bulgaria has formally launched of mass production of cars under the Chinese Great Wall badge by Litex Motors near the northern city of Lovech.
The car manufacturing plant near Lovech comes to life seventeen years after Bulgaria’s last failed attempt to revive its automobile industry. The first car of the Chinese company Great Wall assembled near Bulgaria’s Lovech was rolled out in the middle of November 2011.
Great Wall Motor has become the first Chinese carmaker to open an assembly plant in Europe as it aims to lift sales in the region. The factory, in the northern village of Bahovitsa in Bulgaria, will eventually produce 50,000 vehicles a year.
The facility was built together with Great Wall’s Bulgarian partner Litex Motors. It will manufacture Great Wall’s Hover SUV, Steed pick-up and Voleex city car models.
Chinese automaker Great Wall Motor will open on February 21 a plant in Bulgaria, producing the first Chinese cars assembled in Europe, its local partner Litex Motors said Thursday.
The plant in the northern village of Bahovitsa near Lovech has been test-producing since mid-November. It has a planned annual capacity of 50,000 cars for the Bulgarian and European market and will employ up to 2,000 people.