A new brand of cars on display attracts the attention of Bulgarian citizens during the past months. Mass production of the Great Wall brand near the village of Bahovitza close to the Bulgarian city of Lovech starts on February 21. Bulgarian Prime Minister Boyko Borissov and high-level officials were all present at the opening ceremony. 120 young experts have started working in the plant. They have all passed a special training programme in the newly built factory. In the future the number of workers would grow to 2000. 400 out of them will be foreign experts from Germany, Japan, South Korea, China, and Italy. Bulgarian and Chinese investments in the plant have already reached 80 million euro, as they are planned to reach 300 million euro in the future. The factory will produce 50,000 cars annually, which will be exported to countries all over the world and in the EU. 150 clients have already ordered new cars made in Lovech.
The plant produces several models of the Chinese Great Wall brand. The compact Voleex C10 costs about 8,000 euro. The Hover SUV costs 14,4000 euro, while the price of the Steed pickup truck is about 12,000 euro. By the end of the year the factory will start production of two more models. Chinese automotive giant Great Wall has already received approval for sales in the EU of two of its models.
Bulgaria managed to attract the Chinese producer in a fierce competition with countries like Russia, Belgium, and Slovakia. Bulgaria was chosen due to the cheaper and qualified labor, as well as lower taxes. This way the country has launched one of the biggest industrial projects since 1989. Here is what Borislav Stefanov, Executive Director at the Bulgarian Investment Agency told Radio Bulgaria.
“This is one of the major investments in Bulgaria for the past few years. The project revives the Bulgarian automotive industry and is of great importance in times of crisis, as it creates jobs. The automotive industry is a profitable sector and this investment is to have a positive effect on the development of the region of Lovech.”
We asked Mr. Stefanov if there was a demand for these cars on the market? “There will be buyers of this class of cars in Bulgaria. The producers have very carefully chosen the models that can attract consumers’ attention. They produce compact cars, SUVs, and pickup trucks and I think despite the stagnation on the market there will be enough buyers of these cars.”
Which is the biggest Chinese investment in Bulgaria? “For the past 15 years Chinese investments in Bulgaria have reached 50 million euro, according to statistics, Borislav Stefanov says. A big part of it was realized during the past year. Most of the Chinese investments in Bulgaria are in the energy sector. Chinese investments in the production sector are not so big. I am very glad that this project has been realized.”
English: Alexander Markov
