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VOSS Automotive invests in Bulgaria

Emil Karanikolov, Bulgaria’s Minister of Economy, presents the certificate “Class A Investor” to VOSS Automotive representatives

October 15, 2018

In 2019, a new VOSS plant for the production of line assemblies will be opened in the city of Lovech. VOSS Automotive announced its plans during a press conference in Bulgaria.

“The VOSS team unanimously chose Bulgaria among more than 22 selected countries to position our next business. Already during our first visit to Bulgaria, the people who are educated and motivated, the stable infrastructure, Bulgaria’s membership in the EU and the stable political and economic environment all made a very strong impression on us”, said Mr. Roland Weiss, Managing Director of VOSS Automotive Bulgaria.

During the official presentation of the company in Bulgaria, Mr. Emil Karanikolov, Minister of Economy, awarded the certificate for preliminary administrative support to the representatives of VOSS Automotive.

“In between 2005 and July 2018 there were 21 certificates concerning the automotive industry issued under the Investment Promotion Act and the total amount of the investments in the projects exceeded BGN 1 billion”, stated Emil Karanikolov. According to him, vehicle production is one of the prioritized high-tech sectors for attracting foreign investments in the country, with great potential for development of exports, employment and regional economic activity. The industry is of strategic importance for the Bulgarian economy with a long-term perspective.

Mr. Stamen Yanev, CEO of the BIA Agency, added that there are three main advantages that VOSS will bring to Bulgaria: working places, strategic investments for the region, innovations which will contribute to the development of the region in social and educational aspect.

The company’s plant in Bahovitsa village, Lovech municipality, will begin production in the middle of next year. The industrial area, where a double-digit million euro range will be invested, is located on an area of 15,000 square meters. The company has already commissioned a large passenger car manufacturer for several million SCR lines, which will be launched in the middle in 2019. By the end of 2020, the German investor will offer about 500-1000 new jobs for the region, relying mostly on native professionals. Kai-Uwe Otto, HR Director of the company, commented that the renowned German dual education system is an excellent platform VOSS will transfer to the new Bulgarian facility by working together with local education institutions to foster the career development of young professionals.

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