The Chinese car and truck company JAC Motors is exploring production options in Bulgaria and entering the European market, its representatives said in a meeting with Deputy Economy Minister Lyuben Petrov in 2016. According to the company, the back then expected investments in Bulgaria may have exceeded EUR 40 million.
The company, which manufactures electric cars and electric buses, viewed the country as a starting point for European markets.
“When it starts the production, JAC Motors will find partners to work with. I am convinced that the use of electric vehicles is the future of the world. Such a project is in full compliance with the government’s program of attracting investment in high-tech sectors”, said the Deputy Minister in 2016.
However, four years later, no investments have been made in Bulgaria by this Chinese company, nor has its Bulgarian unit been established.
In 2017, the Secretary-General of the Ministry of Economy, Vladimir Tudzharov, met with representatives of JAC MOTORS in Ningbo, where the Third Forum for Trade and Investment was held between China and the countries of Central and Eastern Europe. For his part, Kevin Shen, Sales Manager for Europe and North America, invited the Secretary-General of the Ministry to inspect the company’s manufacturing facilities in Hefei. He explains that JAC Motors has a total of six factories in China, which produced 630,000 vehicles last year, with a turnover of $ 15 billion.
“We plan to manufacture in China and import into the EU. Once we stabilize on the market, we will consider moving the production to the EU and Bulgaria is a potential opportunity,” Shen explained.
Nothing in connection with this project has happened from 2017 until now.
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