BYD to establish JV for electric bus production
Shenzhen, China- BYD is a China-based private car enterprise where Buffett owns some of the stock shares. Tianjin Municipal Government said BYD is planning to establish a joint venture to produce K9 electric buses in Tianjin.
The joint venture, established by BYD and Tianjin Public Transportation Group, a subsidiary of Tianjin Municipal Government, will give priority to provide electric vehicles to the public transportation corporation. Information of the joint venture is not detailed. BYD, based in Shenzhen, is the largest electric vehicle manufacturer in China, which produces E6 electric vehicle, F3DM plug in hybrid electric vehicles and K9 electric buses.
According to the materials provided by BYD, the K9 electric buses that it is now producing in Changsha are powered by iron phosphate battery of BYD, which can leaf a 250-mile range with highest speed of 70 km per hour before needing a refueling charge. At present, BYD provides electric buses to Shenzhen, Shaoguan, Changsha and Xi’an.
The Company also provides K9 buses that have been tested on road to Germany, Spain, Holland, Finland, Chile and Peru. Last month, the company signed contracts with Buquebus tourism and a diary company in Uruguay for a total of 500 electric buses which will be delivered by 2015.
Shenzhen Post Elaine contributes to the story.
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