We believe that Bulgaria should have its place as a key partner in important industries. We believe that today we are laying a solid foundation and with joint efforts Bulgaria will become in the coming years a European leader in the production of electro-mobility technologies, but we will also be a European leader in the production of energy storage systems, the Executive Director of InvestBulgaria Agency (IBA) Bogdan Bogdanov said at the official signing ceremony on the Declaration on Bulgaria's accession to the European Battery Alliance. The Alliance brings together over 800 industrial and innovation partners across the supply chain, Bogdanov said, explaining that Bulgaria aims to improve its competitiveness in this sector, but also in Europe as a whole.
"The automotive industry in Bulgaria is one of the fastest growing as 90% of the cars in Europe use critical components, sensors manufactured in Bulgaria, but the potential of the Bulgarian automotive industry is yet to emerge. We foresee that the main focus will be electric vehicle technologies, including batteries, inverters, power electronics, power supplies," Bogdanov said.
By joining, Bulgaria will become part of an industry that is linked to decarbonization technologies - energy storage systems and electro-mobility, where 100% of production goes for export, and is expected to generate annual revenues worth EUR 250 billion from 2025 onwards. Thus, Bulgaria will be able to attract foreign direct investment from manufacturers and create the prerequisite for economic growth and the creation of new jobs.
European Commissioner for Innovation, Research, Culture, Education and Youth Mariya Gabriel said that the signing of the agreement is an extremely important step because it will strengthen Bulgaria's role and participation in the Alliance. In her words, Bulgaria's accession means 440 new actors in the field of innovation.