BYD and Bulmineral set up electric bus joint venture in Europe
14 December 2012
China-based BYD and Bulgaria-based Bulmineral Ltd signed an agreement to create a 50:50 joint venture company, named Auto Group Motors, to produce electric buses in Europe. This is the first electric bus joint venture in Europe and the first overseas electric vehicle joint venture for BYD.
BYD, the world’s largest electric bus manufacturer, will work together with Bulmineral Ltd, to manufacture pure electric buses in Breznik, Bulgaria. BYD says that this will enable BYD to break into local markets in Bulgaria and expand to other countries in Europe.
The 12-meter BYD electric bus is able to run 250 km (155 miles) on a single charge in urban conditions. This allows a travelling range that is sufficient for one whole shift in most cities. The core technology of BYD electric buses is BYD’s self-developed lithium iron-phosphate battery technology. The accumulated mileage of BYD electric buses in Shenzhen, China alone has surpassed 11.81 million kilometers (or 7.33 million miles) by the end of November 2012.
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