8.27BYD to start selling electric buses by year end

BYD to start selling electric buses by year end

 

http://autonews.gasgoo.com/auto-news/1011927/BYD-to-start-selling-electric-b
uses-by-year-end.html

 

Shanghai, August 27 (Gasgoo.com) BYD, China's largest rechargeable battery
maker and an ambitious automaker, recently said its first batch of electric
buses will roll off the production line and go on sale by the end of this
year, xinhuanet.com reported today.  

 

The first phase of BYD's bus plant project will kick off next month in
Changsha, capital city of central China's Hunan province. The company signed
an agreement on July 24 to take over Midea Coach Manufacturing Co., Ltd. for
60 million yuan ($8.78 million) from its owner Midea Group, one of the
largest home appliances manufacturers in China.

 

Under the deal, BYD will pay cash for the entire equity assets of Midea
Coach to take full control of the bus maker and turn it into BYD's
new-energy bus and passenger vehicle production base in Changsha. BYD plans
to start initial production of electric buses by the end of this year and
produce car models C3, C6 and F2 later.

 

Through the acquisition, BYD will be automatically granted the government
permission to manufacture buses and coaches. BYD will invest 3 billion yuan
in the first phase of the construction. BYD's new bus base will be the
biggest project in Hunan province's auto industry.

 

BYD, which currently has two auto manufacturing bases in China, sold 176,795
vehicles in the first half of this year, up 176% from a year earlier. The
Shenzhen-based company aims to sell 400,000 vehicles in 2009, to be up 100%
year-on-year.

 

For more information please visit http://autonews.gasgoo.com/index.html