Bulgaria and Turkey in a Fierce Competition for a New Skoda Factory

Business | November 7, 2018, Wednesday // 13:59
Bulgaria: Bulgaria and Turkey in a Fierce Competition for a New Skoda Factory

The car maker, Škoda, views Bulgaria and Turkey as possible locations for their new plant, says German business edition Handelsblatt, citing sources. The company, part of automotive giant Volkswagen, plans to open additional production to meet the ever-increasing demand for its cars.

The factory will certainly be in Eastern Europe, but it will not be in the Czech Republic due to the lack of staff. "The talks are for Bulgaria and Turkey," a source from the automotive group told Handelsblatt. Although it is run by Škoda, the new factory will be able to produce cars from other brands of the Volkswagen Group.

Last year was extremely successful for the Czech brand, which sold the record 1.2 million vehicles. It has greatly increased its profits and even "squeezed" market share from its German parent company, which has prompted the dissatisfaction of the VW trade unions. The decision to locate the new plant is expected to be taken at a meeting of the supervisory board of Volkswagen next Friday (November 16th), where the company's investment program will be voted on.

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