site.btaStudy Explores Possibility to Build Electric Vehicle Components Plant

An ongoing study is exploring the possibility to build a plant for the manufacture of electric vehicle components and assembly of electric vehicles in Bulgaria. The investment is expected to surpass EUR 40 million and to create 800 jobs. Senior executives of a foreign company presented the project to Economy and Industry Minister Nikola Stoyanov. The siting of the future plant was discussed at earlier meetings.

Stoyanov said: "The Bulgarian automotive sector is one of the fastest developing sectors of the national economy, and companies plan further extensions, which is indicative of the competitiveness of the economy and the options we can provide." He added that electronics, electric engineering, information technology, chemical and other companies are reporting good results. "Bulgaria can offer skilled workers, but we are interested in drawing investors who are prepared to give workers decent pay", Stoyanov said.

The Economy and Industry Minister presented Bulgaria's industrial zones as an investment target and his ministry's plans for their development. He underscored Bulgaria's advantages as an investment destination and pledged total administrative support for the new project.

The meeting was attended by Stefan Yonkov, who heads the trade and economy service at Bulgaria's Consulate General in Munich, and representatives of a Bavarian investment consulting firm.