Build Your Dreams (BYD), the Chinese carmaker backed by billionaire US investor Warren Buffett, has signed an agreement with energy giant Bulmineral to build an electric bus and car factory in Bulgaria, according to official Chinese news agency Xinhua.

Bulmineral will build the factory in Breznik, 50km (30 miles) west of Sofia, and will produce 40-60 electric buses a day, the energy firm’s CEO Alexander Usachev said.

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Ho Isbrand, a European-based BYD executive, told Xinhua the Bulgarian firm was helping the Chinese company develop its business.

BYD would be the second Chinese automotive business to set up in Bulgaria after Great Wall Motor, which launched an assembly plant in the northern town of Bahovitsa in February. This is due for completion in 2015 with an annual capacity of 50,000 vehicles.

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