Chinese bus maker to build plant in Venezuela
Zhengzhou Yutong Group Co., a major Chinese bus manufacturer, plans to build an assembly plant in Venezuela.
Yutong signed a framework agreement with the Venezuela government last week for the factory.
The plant will supply the local market and also export buses to other countries in South America, said Yutong, without disclosing further details about the project.
Last week, Yutong signed a memorandum of understanding with the Venezuela government to ship 1,500 buses from China to Venezuela. The buses will be delivered late this year or early next year, according to the company.
Yutong, headquartered in the north China city of Zhengzhou and listed on the Shanghai stock exchange, is one of China's largest bus makers. It also is China's largest bus exporter, with significant sales in Cuba, Russia, Saudi Arabia and Algeria.
Last year, the company sold 56,068 buses worldwide.
The plant will supply the local market and also export buses to other countries in South America, said Yutong, without disclosing further details about the project.
Last week, Yutong signed a memorandum of understanding with the Venezuela government to ship 1,500 buses from China to Venezuela. The buses will be delivered late this year or early next year, according to the company.
Yutong, headquartered in the north China city of Zhengzhou and listed on the Shanghai stock exchange, is one of China's largest bus makers. It also is China's largest bus exporter, with significant sales in Cuba, Russia, Saudi Arabia and Algeria.
Last year, the company sold 56,068 buses worldwide.
