Great Wall Motor starts constructing auto plant in Bulgaria
Published: 14 May 2009 17:14:41 PSTMay 15, 2009 (China Knowledge) - Great Wall Motor Co Ltd<2333>, the largest maker of sport-utility vehicles (SUVs) in China, recently started construction of a plant in Bulgaria with its local partner Litex Motors, sources reported. The plant, located in Lovech, about 150 kilometers northeast of Bulgaria's capital, Sofia, will have an annual production capacity of 50,000 vehicles and is expected to help create 1,000 jobs. With an investment of EUR 80 million, the new plant will produce Great Wall's Florid cars and Hover SUVs mainly for the Bulgarian market. Sergey Stanishev, Bulgaria's prime minister, broke ground for the plant during the opening ceremony on May 11. Last year, the Chinese auto manufacturer decided to shut down its joint venture in Russia due to new regulatory hurdles and to the world's prevailing gloomy macroeconomic situation. Copyright © 2009 www.chinaknowledge.com |
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