Sat, Nov 07 2009

New car manufacturing plant near Lovech

Mon, May 11 2009 09:42 CET byNick Iliev 1395 Views 2 Comments
New car manufacturing plant near Lovech

Prime Minister Sergei Stanishev has announced that the construction of a new car factory in Bahovitsa village, near Lovech, will go ahead. The investment amounts to 80 million euro, involving one of China's leading brands, Great Wall Motor Company, in collaboration with Litex Motors. The plan is to create a production line for Bulgarian jeeps, with the plant set to employ 1300 workers initially.

The first batch SUV series is expected to be produced by the summer of 2010 with employment capacity reaching 3000. The factory is banking on recruiting talent from the Mechanical School in Lovech and the Technical University in Sofia, the Government information service has reported.

The Great Wall Motor Company is the first privately owned auto company of China listed on the Hong Kong stock market and has obtained $1.7 billion of financial investment.

GWM ranks amongst "the Top 500 Enterprises of China" and is one of the most popular brands in the national automobile industry. GWM currently sells vehicles in about 60, mostly developing, countries and exports account for about a third of the company's sales.

Comments

Anonymous woody Wed, May 13 2009 02:45 CET
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....probably the Chaines are expecting to pay less to Bulgarians.....let see...

Anonymous hoosier Tue, May 12 2009 05:46 CET
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Lets see if the idiots can stop from messing this up with corruption and worker greed and apathy

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The newly-established Litex Motors will assemble vehicles from Chinese parts in Bulgaria, Corporate Commercial Bank's (CCB) marketing director Alexander Hristov told The Sofia Echo on May 13. CCB holds eight per cent in the joint company, while the remaining 92 per cent are in the hands of local businessman Grisha Ganchev. Litex Motors plans to sell domestically and export the vehicles it assembles only to Greece and Romania for now, Hristov said. Bearing in mind that the new company was just founded, according to him it did not have the needed permits and licences to trade with other European countries.

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