Yutong scoops big contract in Cuba
Jun. 12, 2007 (China Knowledge) – Yutong Group <600066>, a leading coach
and bus manufacturer based in Zhengzhou, Henan Province, announced that
it has successfully signed a contract worth US$ 370 million in Cuba.
Yutong will manufacture 5,384 vehicles for Cuba by 2009, according to
the contract's terms. Yutong's contract is for the largest export volume
of coaches and buses for a Chinese manufacturer. The exported vehicles
will vary from city and school buses, to coaches and special vehicles
for the disabled.
Yutong started to export buses and coaches to Cuba in 2005. By June 11,
1,200 vehicles have been manufactured for export to the country, which
accounts for 99% market share of bus imports to Cuba. Therefore Cuba has
become one of eight strategic markets in the world for public transport
The manufacturing target in the next two to three years for Yutong is
to exceed 30,000 units, among which 30% should be for export, enabling
Yutong to become a global mainstream public service vehicle provider
according to the spokesman of the company.
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