The Bulgarian branch of the German automotive wiring systems manufacturer – Leoni announced that it will close its plant in Pleven by the end of the year. The facility, which employs approximately 1 300 people from Northwest Bulgaria, cited chronic staff shortages and high inflation as some of the main reasons for the exit. Following the closure, Leoni Bulgaria will enter liquidation proceedings. All current projects will be completed at the Pleven plant until the planned production stop and will subsequently be integrated into Leoni’s global production network, the company said. Recall, that Leoni entered Bulgaria in 2018 when it invested EUR 32m in its plant in Pleven. The parent company – Leoni has also been struggling and was taken off the Frankfurt Stock Exchange in 2023, following a restructuring plan. The events around Leoni go to show once again the challenging business environment for the European automotive industry, on the back of Brussels' green agenda.