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At 12:15 on Jul. 21 local time, in the presence of Chinese President Xi Jinping and Venezuela President Nicolás Maduro, Zhengzhou-based Yutong Bus signed a memorandum for 1,500 units buses as well as spare parts, tools, maintenance and intelligence bus operation management system. In addition, upon the request from Venezuela, Yutong Bus also signed framework agreement with the nation"s Ministry of Industries and Ministry of Land Transport for setting up joint ventures for manufacturing buses in the local market. In doing so, the nation plans to export buses produced in its own country to South American Community of Nations (also known as CSN).
According to sources, the sales volume of Yutong buses reached 56,068 units in 2013, ranking the first place in the global market for three consecutive years. The signing of the memo represents a new big step for the company, making it China"s bellwether in expanding overseas market.
According to Yutong, the delivery of the 1,500 buses is expected to be finished before the early half of 2015. Moreover, the bus maker will provide price competitive and high quality transport products, spare parts, tools, maintenance service and intelligence bus operation management system to the country. In addition, the execution of the framework agreement on setting up joint ventures will further boost the development of the local auto part industry as well as the nation"s export to CSN.