National Business Daily reported that Zhengzhou Yutong Bus wrote in a filing that it intends to invest CNY 2.435 billion to establish China largest new energy vehicle factory in Zhengzhou, the capital of Henan province.
The facility is expected to have production capacity of 10,000 new energy buses after one year. That figure includes capacity of 6,000 energy-efficient passenger buses and 4,000 new energy passenger buses.
Yutong Bus aims to launch 10 to 18 meter hybrid power buses and 7 to 14 meters long electricity buses by 2012 and cover all kinds of energy saving and new energy buses by 2015.
Yutong Bus posted an 8.16%YoY increase in bus sales to 18,368 units in the first six months with production volume of 17,409 units in the same period up 5.66%YoY.
China recorded sales of 3,000 new-energy passenger buses in 2009 and 4,884 buses last year.