Chinese Cars to Be Made in Bulgaria Furor at Ruse University Fair
Prototypes of the cars of Chinese manufacturer Great Wall Motors that will be produced in Bulgaria's Lovech generated heated interest Thursday at the opening of the auto and agricultural equipment fair at the Ruse University "Angel Kanchev."
China's Ambassador to Bulgaria Guo Yezhou, Deputy Agriculture Minister Georgi Kostov, and a Romanian delegation from Giurgiu were among those who demonstrated great interest in the two vehicles – a jeep and a pickup truck, i.e. the models Hover and Steed – during the expo in the Danube city of Ruse.
The President of Ruse University Prof. Hristo Beloev demonstrated the advantages of the vehicles, reported BGNES. The high-class equipment Chinese jeep will cost only BGN 33 000 with VAT, or about EUR 16 000.
The construction of the manufacturing plant for the joint venture of Great Wall Motors and the Bulgarian company Litex Motors is in advanced stage with an expected production start date in the second half of 2011 when the small passenger car Voleex, the Steed pickup, and the SUV Hover will be launched. The Voleex price in China is about BGN 12 500.
The joint venture plant will have an annual production capacity of 50 000, which are expected to be sold in European Union countries.
The total initial investment is around EUR 80 M, potentially reaching EUR 300 M if the project is successful. The cars are expected to be sold under the Great Wall badge, boosting the firm's output from around 400 000 at present.
A total of 23 German companies also participated in the 13th expo of agricultural and auto equipment at Ruse University, which attracted over 100 participants in total with various types of cars, trucks, tractors and agricultural machines, specialized equipment for animal breeding and processing industry.
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