Bulgarian Company is Planning an Electric Car Factory for BGN 10 Million in Rousse

Business | March 1, 2019, Friday // 14:45
Bulgaria: Bulgarian Company is Planning an Electric Car Factory for BGN 10 Million in Rousse

The producer of the first Bulgarian supercar Sin Cars plans to build a small electric car factory in Rousse. The goal is to produce up to 20,000 such cars per year. This intention was confirmed by the founder of the company Rosen Daskalov in a message before the company's participation at the Geneva Motor Show.

In his words, the vehicles will be small and will be suitable for city travel or for business services. Their price will be relatively low - the smallest will be priced at around 10,000 euros. The cars will be named Sin L-City.

"We plan to have an electric car factory in Rousse with an area of ​​6000 square meters on two floors, investments in the factory and the equipment will be at least BGN 10 million depending on the orders and the capacity will be about 100 people to assemble the cars "said Daskalov, quoted by" 24 Hours ".

"The batteries will be assembled by ourselves, which we are doing at the moment to be independent of the supply of the big manufacturers, which is very dynamic and will be made even clearer after the salon in Geneva because the project is also interested in several foreign investors, he added. Under plans, serial production should start in 2020.

Meanwhile, in October last year it became clear that Sin Cars plans to make a debut on the stock market in Bulgaria. According to the information then it became clear that the company's goal is to raise financing to enter the electric car market. The purpose of the company was to raise about BGN 20 million in its IPO on the Bulgarian Stock Exchange (BSE).

"Our goal is to sell multifunctional small urban cars that will be used for transportation, taxi companies and supplies," said Sin Cars owner Rossen Daskalov in an interview with Bloomberg. The company's sales are estimated at about $ 2.3 million a year, making about 50 racing cars for 12 months for US, South American and Australian customers.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria