December 13 (SeeNews) - South Korea's Songuo Motors and Italy's Hadid Holding intend to build a $200 million (179 million euro) plant for manufacturing electric vehicles in Bulgaria, the Bulgarian government said.
Bulgaria's investment promotion agency has signed a memorandum of understanding (MoU) with Songuo Motors and Hadid Holding regarding their investment intention, the government said in a statement on Thursday.
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The investment is expected to create 2,000 jobs.
Tim Shin, CEO of Songuo Motors, expressed his confidence that the project will be finalised, the government noted.
($ = 0.8950 euro)