The leading Bulgarian bicycle manufacturer Maxcom and the Austrian giant Pierer Group officially established a joint compay and purchased 200 decares in Trakia Economic Zone. The investment, announced earlier this year, aims to establish one of the largest e-bike production facilities in Europe.
The work on the investment has already started, with construction expected to begin in the first half of 2022. Bulgaria is committed to building ancillary public infrastructure, and the Minister of Innovation and Growth Daniel Lorer visited Plovdiv to learn more about the project. The event was also attended by Mayor Zdravko Dimitrov and Deputy Mayor Stefan Stoyanov.
“Our ambition is to build bike lanes on all newly built boulevards, where possible, because this method of transport will contribute to improving air quality and the health and physical activity of citizens,” said Mayor Zdravko Dimitrov.
The investment is for over BGN 80 million and will provide over 1000 new jobs for Plovdiv and the region. It will give a strong boost to the local economy and put the Bulgarian manufacturer at the forefront of the niche for the production of electric bicycles in the EU. The funds are expected to increase with the attraction of suppliers and subcontractors of the two companies to build their bases around the new plant.
More about Maxcom and Pierer Group:
Maxcom was established in 1996 and is one of the largest bicycle manufacturers in Europe. In 2001 they celebrated their first export of bicycles to the EU countries, and since then over 95% of all their products are sold in these markets.
Pierer Group is one of the international leaders in the manufacturing and distribution of motorcycles, bicycles and electric bicycles, as well as spare parts for them. For four years in a row, KTM is the largest manufacturer of motorcycles in Europe, and subsequently entered the market for bicycles and electric bicycles. The company sold over 200,000 bicycles in 2012 alone.