Litex Motors to Invest EUR 70 M In Its Factory
The Bulgarian automobile producer Litex Motors is planning to invest around EUR 70 M in its Lovech factory, reports Capital Daily.
The sum is part of a four-year plan for expansion of the production facilities, which will include the launching of facilities for welding, metal working and painting. Thus the company will close the production cycle for automobiles of the Chinese company Great Wall.
The construction of the new facilities is expected to start in the end of 2015. The annual capacity is expected to reach 50 000 cars in each of the new shops.
Currently Litex Motors only assembles the vehicles from parts, shipped from China and has a total capacity of 70 000 cars per year. According to Capital Daily, currently the factory works with about 5-10% of its capacity.
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