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| Litex, Great Wall Car Commercials Debut in Bulgaria | ||
| Thursday, Nov 10, 2011 | ||
| Litex Motors is launching on the Bulgarian market TV commercials for the Great Wall vehicles it would manufacture in partnership with the Chinese company with the same name. The video clips are 100% Bulgarian-made, and are unprecedented since this is the very first commercial about vehicles shot in Bulgaria and entirely destined for the Bulgarian market, according to Litex Motors. The company further announced the commercials will be very interactive and with the participation of leading Bulgarian star actors. Voleex C10 sedan, Hover H5 SUV and Steed pickup are the three different vehicle models, which Chinese car maker Great Wall Motor Co and Bulgarian company Litex Motors will produce in the town of Lovech, Northern Bulgaria, at very competitive prices. Production is likely to begin by the end of the year amid expectations for a furor not least because of the cars' low prices. Voleex C10, a small supermini-class hatchback, will be tagged at BGN 15 990, Value Added Tax (VAT) included, making it the cheapest car not only in Bulgaria, but across the whole of Europe. The other two models of the Chinese-Bulgarian joint venture will also break price records for a large SUV and pickup. Prices for the Great Wall Hover will start from BGN 28 699 and for Steed, from BGN 24 499, VAT included. The vehicles to be manufactured by Great Wall Motors and Litex Motors in Bulgaria's Lovech premiered at the autumn fair in the city of Plovdiv, which will open on September 26. Great Wall Motor Company, one of China's biggest automotive manufacturers, signed a joint venture (JV) deal with Bulgarian diversified holding company Litex Commerce in the presence of Chinese Vice President Xi Jinping and Bulgarian Prime Minister Boyko Borisov at the end of 2009. The plant will have an annual production capacity of 50,000 units and assemble four different models – a sports utility vehicle (SUV), a pickup and two passenger car models, which are expected to be sold in European Union countries. The total initial investment is around EUR 80 M, potentially reaching EUR 300 M if the project is successful. The cars are expected to be sold under the Great Wall badge, boosting the firm's output from around 400,000 at present. The project is considered to be nothing short of a coup for Bulgaria, which does not currently produce any passenger vehicles, though it does have a modest but successful automotive components industry. The plant will surely be positioned squarely towards export market and by the time production commences, the automobile market is expected to be experiencing a post-slump upswing. This may also be the last chance for the revival of the local automobile industry after in mid 1990s Rover set up a joint venture with the Bulgarian Daru Group in Varna, which failed because of a weak market strategy, high prices, and a stronger competitor in the face of Skoda. |
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| Source: http://novinite.com | ||
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