BYD to set up the first electric bus JV company in Europe

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Sofia, Bulgaria – BYD and Bulmineral Ltd signed an agreement yesterday to create a 50:50 joint venture company , named Auto Group Motors, to produce electric buses in Europe. This is the first electric bus JV company in Europe and is also the first overseas electric vehicle JV for BYD.

BYD, the world’s largest electric bus manufacturer, will work together with Bulmineral Ltd, to manufacture pure electric buses in Breznik, Bulgaria. This will enable BYD to break into local markets in Bulgaria and expand to other countries in Europe. BYD EUROPE B.V. Managing Director, Mr. Isbrand Ho stated: “We are delighted to set up this e-bus JV company in Bulgaria with Bulmineral Ltd. It is a very important step for BYD and will ensure we are able to move forward with our strategy to introduce our electric vehicles and more green products across Europe.”

Mr. Mihail Ivanov, the CEO of Bulmineral said: “We are proud that we are able to reach an agreement of collaboration with BYD, the worldwide leader in the manufacturing of batteries, electric cars, and electric buses. Today marks the beginning of a new stage in our activities by starting the manufacture and assembly of electric buses with BYD.”

Present at the signing ceremony were Mrs. Li Hong, first Secretary to Embassy of the People’s Republic of China in the Republic of Bulgaria, Mr. Valentin Bojuov, Deputy Minister of transport, information technology and communications of the Republic of Bulgaria; Mr. Borislav Stefanov, Executive Director of the Invest Bulgaria Agency; and Eng. Ivo Petrov, Governor of Pernik province and Mr. Vasil Uzunov, Mayor of Breznik.

The 12-metre long 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 Iron-Phosphate battery technology boasting the highest safety, longest service life and most environmentally-friendly rechargeable chemistry. It also contains no heavy metals or toxic electrolytes. 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.

The establishment of the JV company Auto Group Motors is an significant step for BYD following a number of deals and customer demonstrations for its pure electric bus worldwide. Sales have been recorded in China, Netherlands, Finland, Denmark, Canada, Uruguay and the United States, and bus demonstrations have been completed or started in Spain, Belgium, Hungary, Colombia, Chile and Peru .

About BYD

BYD is ranked #1 at the top of Bloomberg’s and BusinessWeek’s 2009 Tech 100 List (http://www.businesswire.com/news/home/20100520006751/en/BYD-Tops-Bloomberg-Businessweek%E2%80%99s-12th-Annual-Tech) and is the leading manufacturer of advanced, environmentally-friendly battery technologies like the BYD’s Iron Phosphate battery used in BYD electric vehicles and electric busses. BYD’s solar panels and LED Lighting systems have CEC, TUV/CE and UL listings, and the company enjoys rapid growth inconsumer electronics space and electrified transportation sector manufacturing under its BYD brand. BYD is the fastest-growing Chinese automotive and green energy technology enterprise. The Company trades on the Hong Kong Exchange (HKE) under the ticker numbers (HK.0285 – BYD Electronics) and (HK.1211 – BYD Company Ltd.), as well as on the Shenzhen Stock Exchange under the ticker number (002594 – BYD Company Ltd.). For more information, visit www.byd.comwww.facebook.com/bydcompany or email pr@byd.com.

Contacts

BYD Overseas PR Contact
Veronica Jiang bydpr@byd.com
+86 -755-89888888 ext. 62527
or
BYD Europe B.V. Contact
Penny Peng penny.peng@byd.com
+31 -102070888 Vareseweg 55, 3047
AT, Rotterdam, Netherlands

 

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About bydcompany
Providing a fully vertically integrated solution for green energy technologies, producing electric cars using iron phosphate battery technology.Visit us at: http://www.facebook.com/bydcompany

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