Subscribe free to our newsletters via your
. Space Industry and Business News .

Chinese firm to build electric cars in Bulgaria: report
by Staff Writers
Beijing (AFP) Dec 12, 2012

A Chinese automaker backed by billionaire US investor Warren Buffett has signed an agreement with energy giant Bulmineral to build an electric bus and car factory in Bulgaria, a report said Wednesday.

China's Build Your Dreams (BYD) and Bulgaria's Bulmineral will build the factory in the town of Breznik, some 50 kilometres (31 miles) west of Sofia, and will produce 40-60 electric buses per day, the energy firm's CEO Alexander Usachev told Xinhua.

The factory's car-making capacity will be determined in three months, added Usachev.

The investment cost was not mentioned in the report.

Ho Isbrand, a BYD official in Europe, said he was happy the Bulgarian firm was helping the Chinese company develop its business in Europe, according to Xinhua.

BYD is listed on the Hong Kong stock exchange with Buffett a minority shareholder.

It is the second Chinese auto firm to expand to Bulgaria after Great Wall Motor, which in February launched an assembly plant in Europe in the northern town of Bahovitsa.

After its completion around 2015, the Bahovista plant is expected to make 50,000 vehicles annually.

China is the world's largest car market. Seventy percent of cars sold are foreign brands.


Related Links
Car Technology at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Japanese car sales in China rocket 72% in November
Beijing (AFP) Dec 10, 2012
Japanese passenger car sales in China soared 72.2 percent in November, an industry group said Monday, after demand slumped in a furious territorial row between the world's second- and third-biggest economies. The China Association of Automobile Manufacturers (CAAM) said the month-on-month rise came after falls of 29.5 percent in September and 38.2 percent in October - but Japanese sales wer ... read more

Russia saves satellite after launch glitch

Mobile Internet forcing computers to evolve

Malaysia orders Australian miner to ship out waste

$99 Google laptops for schools sold out

US Air Force selects Raytheon to develop future Protected SATCOM System

General Dynamics Awarded Contract Under New U.S. Army Rapid-Acquisition Communications Program

Astrium to provide military X-band satcoms to six UK Royal Navy vessels

Lockheed Martin to Demonstrate Key Component of Tactical MilSat Communications System

ULA Launch Monopoly to End

SPACEX Awarded Two EELV Class Missions From The USAF

Russia Set to Launch Telecoms Satellite for Gazprom

Sea Launch Delivers the EUTELSAT 70B Spacecraft into Orbit

Third Boeing GPS IIF Begins Operation After Early Handover to USAF

Putin Urges CIS Countries to Join Glonass

Third Galileo satellite begins transmitting navigation signal

Retired GIOVE-A satellite helps SSTL demonstrate first High Altitude GPS navigation fix

Rockwell Collins wins Navy E-6b upgrade

Canada widens search for fighter jet beyond F-35

Brazil fighter deal seen to favor Boeing

US agency chief seeks to ease airplane electronics ban

Tiny compound semiconductor transistor could challenge silicon's dominance

Berkeley Lab Breaks Ground on Flexible Design Building to Test Low-energy Systems and Components

DuPont Microcircuit Materials Introduces New Low Cost Conductive Inks for Printed Electronics

New '4-D' transistor is preview of future computers

Wildfires Light Up Western Australia

Environmental satellite produces first photo of Earth

NASA-NOAA Satellite Reveals New Views of Earth at Night

Skybox Imaging Completes Significant Testing Milestone Preceding its First Satellite and Product Launch

Toxic cloud in Buenos Aires under control

Peru industrial pollution feeds conflict

China aims to reduce air pollution

Declining air pollution levels continue to improve life expectancy in US

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement