UK electric car company Zero Carbon 2020 will produce the first cars from a new assembly line in Bulgaria in the second or third quarter of 2011.
The assembly line will be near the southern city of Stara Zagora and will initially have the capacity of 100 cars; output is planned to expand to some 5,000 units by 2015.
The initial investment is estimated at BGN 6.5 M, and if the market reacts well, it is planned it would reach EUR 10-12 M.
"We are a company offering niche products and have no ambitions for mass production," Zero Carbon CEO Jamie Roberts explained, adding that his plans for Bulgaria envisage assembling an urban model, developed jointly with Swiss electric car maker Rinspeed, and a sports car.
Zero Carbon 2020, founded in 2006, has so far launched two models with an annual production of not more than 20 units.
The company will further develop models with the so-called inductive charge – without cables to connect the vehicle with the charging stations.
Zero Carbon work in partnership with another UK company - Liberty E Cars, which is considering investing in Bulgaria as well – in the manufacturing of electric cars parts (batteries, electronics etc).
One year ago, the international fund Corus Ventures announced they have secured a British investment for the making of electric cars in Stara Zagora. Later, the investors visited the city to research the possibilities and the time frame of launching the production line for, as it was reported then, a 4-seat electric car that could reach speeds of 120 km/h.