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As one of the earliest listed companies in China bus industry, Zhongtong Bus plans to invest RMB 1,138 billion Yuan to set up a new production base of 2000 energy-saving and new energy buses. New base is located in Liaocheng economic and technological development zone and occupies an area of 909 mu. The annual production capacity of 20,000 new energy and energy-saving buses will be formed in 2013 and later, 60% of which will be gained in 2012. However, this project still requires the approval from Shandong Province Development and Reform Commission and filing of National Development and Reform Commission.
The construction of Zhongtong Bus new base closely refers to the national promotion of new energy vehicles in recent years such as 863 Project of Electronic Vehicle in 2001, 2.4 billion Yuan"s investment on the development of key technology of electric buses as well as integral vehicle technology and related policies. In Jan.2009, there were 13 cities having been confirmed to carry on the promotion of new energy vehicles for demonstration test by Ministry of Finance and Ministry of Science & Technology.
According to Wang Qinpu, the principal of Zhongtong Bus new energy project, Zhongtong would make complete product system of new energy buses, including new energy bus power platform and products platform. Zhongtong would highlight 6 new energy products including 3 hybrid power buses, 3 electric buses.