Mayor Fandakova Presented a “Green Card” from Invest Sofia to Visteon’s Engineering Center in Bulgaria

At an official meeting at Invest Sofia, the management team of Visteon Electronics Bulgaria presented to the Mayor of Sofia its plans for the development of a new innovative products lab for car electrification and driving safety solutions. A dedicated Sofia-based team will work in the lab.

“We created the Green Card initiative to encourage investors in Sofia. Since the beginning of the year, the Agency has handed a total of 10 “Green Cards” to investors with investment projects on the territory of Sofia Municipality, the total amount of the planned investments being over 125 million euros, and the new jobs – over 500,” Mayor of Sofia Yordanka Fandakova said during the event.

Thanks to businesses, startups, and established companies operating in the city, the standard of living in the capital is rising. The conditions that these companies provide as jobs with opportunities for training and development attract and keep young people here, in Sofia,” said Mayor Fandakova. She shared her belief that local companies should work closely with universities and vocational high schools and be directly involved in staff training.

According to Visteon, the engineering center in Bulgaria is the leading and largest for the company in Europe, and the expertise of the local team ranks it not only among the most trusted tech hubs of Visteon but also globally. With a team of over 700 engineers, Visteon in Bulgaria manages the entire product cycle. Currently, over 250 global and regional high-tech projects are locally designed, developed and tested for world leaders in the automotive industry.

“As a world leader in the design and development of high-tech passenger compartment products and systems, today Visteon is also a driver of new technologies for the electric future of the automotive industry,” the Executive Director of the company in Bulgaria, Velizar Dimov said. The company constantly invests in the training of new specialists. It has its own academy and works in close cooperation with the Technical University in Sofia. Visteon reports that the company is currently the only one in Bulgaria where young people can work directly on the development of future technologies in the field of car electrification.

The Green Card received by Visteon Electronics Bulgaria is the 11th one since the beginning of the year, when Invest Sofia launched the new initiative to support investors and startup companies in Sofia. The Chairman of the Supervisory Board of Invest Sofia – Nikolay Stoynev, the Executive Director – Dr. Maria Hristova, and the heads of the Investment Analysis and Privatization and post-privatization control departments – Viktor Gusev and Lachezar Borisov, also took part in the official meeting.