German electric car manufacturer Next.e.Go Mobile SE, promoted by former Bulgarian Prime Minister Kiril Petkov, has filed for bankruptcy.
Next.e.Go Mobile, according to Petkov's promises, was supposed to build a plant in Lovech, and then headed to Tetovo in neighboring North Macedonia.
The company wanted to build three new micro-factories in Europe and the U.S. to expand production of its low-cost, small electric cars for city traffic.
Central subsidiary Next.e.Go Mobile SE has filed for bankruptcy. The district court in Aachen appointed lawyer Klaus-Peter Kruth, a partner at restructuring law firm AndresPartner, as provisional insolvency administrator, German publication WirtschaftsWoche reported.
The decision was due to "recent negative developments and challenges in the electric vehicle industry and the volatility of the capital markets".
Kiril Petkov signed the memorandum with the German company three years ago as interim economy minister. / BGNES
