REPORTERNET.COM

Bulgaria has formally launched of mass production of cars under the Chinese Great Wall badge by Litex Motors near the northern city of Lovech.

The car manufacturing plant near Lovech comes to life seventeen years after Bulgaria's last failed attempt to revive its automobile industry.
The first car of the Chinese company Great Wall assembled near Bulgaria's Lovech was rolled out in the middle of November 2011.
With the opening of its new plant in Bulgaria, Great Wall Motors becomes the first Chinese automaker to assemble cars in the European .
The joint factory of Litex Motors, a Bulgarian company, and Great Wall, located at the village of Bahovitsa near Lovech was launched Tuesday, February 21, in the presence of Bulgarian Prime Minister Boyko Borisov and China's Ambassador to Bulgaria Guo Yezhou, as well as Ms. Wang Feng Ying, General Manager and Executive Director of Great Wall Motor Co.
During th opening Bulgaria's PM Borisov declared he had the promise of Chinese Prime Minister Wen Jiabao that China will invest (BGN) 1 B (Borisov mentioned the sum of 1 B without specifying the currency) in the region of Lovech, including in a bus manufacturing plant
"Yes, we are all glad that Bulgaria will be producing cars. The investments have come from our friends. We've talked to the Prime Minister of China, and I received promises for the investment of 1 B until the end of 2013," Borisov stated at the opening of the plant of Litex Motors and Great Wall near Lovech.
He further noted he was glad that Chinese cars for the European market will be produced in Bulgaria.
"There is no way I can't be happy that I am the Economy Minister in a moment when the car manufacturing in Bulgaria is restored. Thank you for this emotion," said Traicho Traikov, Bulgaria's Minister of Economy, Energy, and Tourism.
He emphasized his hopes that the Great Wall Motors project will turn out to be a boost for the Chinese investments in Bulgaria.
"It's no accident that th Bulgarian government provided BGN 2.4 M for the road to this factory, I hope this wonderful ceremony costs less," Traikov joked, referring to the infrastructure aid granted under Bulgaria's Investment Encouragement Act.
Great Wall CEO Wang Feng Ying thanked the Bulgarian government for supporting the Litex Motors project, and declared that Bulgaria will be a starting point from which the Chinese car manufacturer will start entering the European markets.
Cars produced by China's Great Wall already hit the Bulgarian market in October last year through a network of twelve representative show rooms across the country.

(source: www.novinite.com)