China Zhongtong Bus Invest 1.138 billion CNY to build a New Energy Bus Base

http://www.gochinaauto.com/modules/news/article.php?storyid=4638

GoChinaAuto.com-Recently, China Zhongtong Bus’s project of new energy bus and energy-saving bus production base with the annual productivity of 20,000 buses has successfully obtained the approval of Shandong Province government, and is expected to start construction within two months.

The project plans to invest 1.138 billion CNY to build an auto production base covering over 600,000 square meters with the annual productivity of 20,000 energy-saving buses and new energy buses. The new Zhongtong bus production base is expected to reach 60% of production capacity in 2012, and finished in 2013.After the completion, the new Zhongtong bus production base can reach the annual sales revenue of 9.48 billion CNY.

In the first half of 2010 Zhongtong bus reached sales revenue of 905 million CNY, up 81% year on year, and the profit reached 19.45 million CNY, becoming profitable from the losses last year. And Zhongtong Bus has produces 3,975 buses and sold 3,901 buses in the first half of 2010, respectively up 49% and 47% year on year.