China-based Build Your Dreams (BYD) Auto has collaborated with Bulmineral to construct an auto assembly plant at Breznik in Sofia, Bulgaria to produce electric cars and electric buses.
The new joint venture plant, which will be named as Auto Group Motors, holds equal shares by both firms.
Claimed to be the second largest Chinese automotive project in Bulgaria, the facility is expected to begin production in February 2013.
Following the complete construction in 2015, the plant will have a manufacturing capacity of about 50,000 vehicles per year.
Bulmineral chief executive officer Alexander Usachev said: "Its car assembling capacity will be clear in three months."
BYD Auto Auto Export Trade Division general manager Ho Isbrand said: "We are looking forward to having our partner here helping us to develop the business in Europe."
BYD is a manufacturer and supplier of electric cars, buses, batteries and LED lighting.
