China’s Buffett-backed BYD to build cars, buses in Bulgaria

BYD Co Ltd , the Chinese carmaker backed by billionaire investor Warren Buffett, will launch a joint venture in Bulgaria to produce electric cars and buses, the official Xinhua news agency reported on Wednesday.

BYD and the Bulgarian energy firm Bulmineral signed the agreement on Tuesday to build an auto assembly plant in Breznik, a small town about 50 km west of Sofia, the report said.

The 50-50 venture will be named Auto Group Motors and is expected to deliver its first sample electric bus in February 2013, Xinhua quoted Bulmineral chief executive Alexander Usachev as saying.

The plant will produce 40-60 buses a month when it is operating at full capacity, Usachev said without elaborating.

Click here to read the story.

Thanks for reading to the end of this story!

We would be grateful if you would consider joining as a member of The EB Circle. This helps to keep our stories and resources free for all, and it also supports independent journalism dedicated to sustainable development. It only costs as little as S$5 a month, and you would be helping to make a big difference.

Find out more and join The EB Circle

blog comments powered by Disqus

Most popular

View all news

Industry Spotlight

View all
Asia Pacific’s Hub For Collaboration On Sustainable Development
An Eco-Business initiative
The SDG Co