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The production of automotive components is one of the fastest growing sectors of the Bulgarian economy in recent years. According to the Bulgarian Investment Agency, 80% of all sensors and over 90% of airbag sensors in European cars are produced in Bulgaria

Representatives of OEMs, Tier 1, and electronic component manufacturers will highlight trends relating to digitalization and electrification in the automotive market

In the recent years there have been a number of successful smaller local and foreign ventures in the automotive components industry. The country provides a cost-competitive environment, free trade access to Europe, and strong local supplier base, which altogether create a welcoming business environment to foreign investors

In Smederevska Palanka, the Kyungshin Cable plant will produce components for high-tech electric car batteries, as well as parts for traditional cars

"So far, we have invested 20 million euro in our newly opened plant in Trakia Economic Zone (TEZ) near Plovdiv. The facility is located on 23 000 sq. m. By 2023, we aim to double our investment, to increase our sales to 60 million euro and to triple our staff", said

The Bulgarian electronic industry has longstanding traditions and is supported by experienced and highly qualified workforce. The Electronic Manufacturing Services (EMS) is a dynamically developing pillar of the Bulgarian electronic production industry. Components and equipment for the electronics manufacturing industry are also broadly produced in Bulgaria

A recent survey examines several SEE countries as attractive markets for automotive investments and growing in popularity manufacturing hubs. Among them are Romania, Slovenia, Serbia, North Macedonia and Bulgaria

The outsourcing industry in Bulgaria has marked its seventh consecutive year of double-digit growth, and now accounts for 3,6% of the country’s GDP.