AFV Solutions in Joint Venture to Produce Hybrid Buses in China
20 November 2006
|The Wu Zhou Long Motors hybrid bus exported to AFVS earlier this year.|
AFV Solutions (AFVS) has entered into an agreement with Baolong Group Company, Ltd., a Chinese multi-purpose vehicle manufacturer, jointly to market, sell, manufacture and/or assemble light- to heavy-duty hybrid vehicles.
AFV Solutions will acquire patents, licensing agreements and intellectual property in addition to acquiring manufacturing and/or assembly facilities, property, plant and equipment. The Baolong Group Limited facilities are located in Guangzhou, China and currently consist of an approximately 840,000 sq. ft. manufacturing facility of which approximately 560,000 sq. ft. is solely dedicated to manufacturing and assembly allowing for the capacity to produce up to 5,000 light- to heavy-duty vehicles annually.
This agreement is an exciting next step in AFV’s efforts to deliver environmentally sound commercial hybrid transportation to the world market in a timely and efficient manner. The combination of Baolong’s facilities and their hybrid technology and manufacturing expertise, are instrumental in furthering our efforts.—Richard Steele, AFVS CEO
AFV Solutions started out as an alternative fuel (CNG and propane) conversion provider. In April of this year, the company signed an agreement with Wu Zhou Long Motors group to become the exclusive representative for sales, marketing, and distribution of their hybrid electric, CHG and LPG buses in five countries, including the United States, Mexico, and India.
The Wu Zhou Long hybrid bus cuts fuel consumption by 20%, according to the company.
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