Bulgaria and China will cooperate to create production facilities for electric buses and a research and development centre in Bulgaria, BNR and Novinite reported.

To this end Stamen Yanev, Executive Director of Invest Bulgaria Agency and representatives of the Chinese companies Jiangsu Alfa Bus and ACN Worldwide signed a memorandum of understanding at the Bulgarian embassy in Beijing, in the presence of Deputy Prime Minister Mariyana Nikolova.

The total investment is estimated at EUR 25 million and will create 250 jobs. Jiangsu Alfa Bus stated that with the investment in Bulgaria, the company intends to introduce cutting-edge technologies for the manufacture of electric buses and parts.