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Borisov: UK Fund to Invest BGN 100 M in Electric Car Plant in Bulgaria

February 8, 2010

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PM Boyko Borisov is on a two-day visit to the UK. Photo by BGNES

A British investment fund is going to set up an electric car factory in Bulgaria’s Stara Zagora.

This was announced by Bulgarian Prime Minister Boyko Borisov, who is on an official visit to the UK, as cited by the Bulgarian National Radio. According to BTA, the investment fund in question is Quorus Ventures.

Borisov has met with representatives of the Fund Monday morning. He announced that it was going to invest about BGN 100 M in the electric car plant in Stara Zagora, and that the Fund was currently making prototypes of the electric cars in Germany.

The electric cars to be produced in Bulgaria have the capacity of traveling 30 km running on their batteries, and of reaching a maximum speed of 70 mph – or 110 km/h – in Borisov’s own words.

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