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July 8, 2019

Ikarbus Serbia to build Chinese electric buses

Chinese bus manufacturer Yin Long Group plans to start building electric buses in Serbian bus maker Ikarbus' factory by the end of this year, general manager Yang Jian said.

By Olly Wehring

Chinese bus manufacturer Yin Long Group plans to start building electric buses in Serbian bus maker Ikarbus’ factory by the end of this year, general manager Yang Jian said.

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According to seenews.com, Yin Long would hire 200 Ikarbus factory workers and is currently working on the technical details for manufacturing locally.

Jian announced his plans in a video posted on the website of news agency Tanjug. 

“We have received a new order which will allow us to start the production of vehicles,” Jian said.

Yin Long plans to make Ikarbus a strong company and use it as a hub for its future expansion throughout the region, he added.

Seenews.com noted that, last March, Dragan Stevanovic, state secretary of Serbia’s economy ministry, said Yin Long repaid Ikarbus outstanding debt and would take control of the company.

Yin Long acquired Ikarbus through its subsidiary Lanzhou Guangdong New Energy Automobile (LGNEA).

The Ikarbus factory in Belgrade’s Zemun suburb can make 250 vehicles a year.

The company currently produces low floor and articulated city buses, plus intercity buses.

Yin Long appears to be gearing up to compete with Chinese peer BYD Auto which has sold a large number of electric buses across Europe, with some local manufacturing.

BYD last month delivered a fleet of 16 pure electric 8.7-metre eBuses to public transport operator, Azienda Trasporti Di Messina (ATM), in the Italian city of Messina, Sicily.

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img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
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