Ivan Mihaylov, Visteon: Bulgarian Auto Parts Manufacturers should not Miss their Chance in the Crisis

Ivan Mihailov, member of AmCham Bulgaria and chairman of Automotive Cluster in Bulgaria had an interview in the show “UpDate” hosted by Boycho Popov on December 12th, 2020

According to Ivan MihaylovDirector of the Visteon Technical Center in Bulgaria and Romania and Chairman of the Automotive Cluster in Bulgaria – market closures and restrictions to control the coronavirus pandemic have led to a desire to shorten supply chains. Bulgarian auto parts manufacturers are in a unique moment and the chance should not be missed in any form. 

Mihailov commented on the ways in which subcontractors can manage to finance expensive future investments in terms of electrification amid declining funds.  

“Companies should be encouraged to understand the requirements of car manufacturers,” Mihailov said.

“The automotive sector is looking for really high quality at the right price, and margins need to be reduced.”

The guest noted that in our country there are many programs under which interested companies can find funding to be adequate to the requirements and to be admitted to this market.  

According to Mihailov, the incentives and infrastructure are of leading role in the renewal of the car fleet in Bulgaria and the purchase of more electric cars.

“The processes have to go very fast and in parallel, because if one overtakes the other, an imbalance will be created.”

Watch the full interview in this video

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