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Statistics released by China’s Ministry of Industry and Information Technology (MIIT) show that China rolled out 1,623 units electric buses in May this year, up by 259% compared with the production volume in the previous month. Shanghai-based Sunlong Bus, with a production volume of 372 units electric buses and a market share of 13.8%, jumped to the third place in China. Yutong ranked the first place with a production volume of 488 units electric buses and a market share of 17.9% in May. Zhongtong came the second with a production volume of 449 units and a market share of 16.5%.
Sunlong’s sales are equally impressive. In April this year, the bus maker sold 216 units buses, up by 300% year on year. It surpassed Dongfeng Chaolong and Yangzhou Asiastar, ranking the ninth place in China.
New energy bus products are now the fist products of Sunlong. In 2015 and 2016, its gross profits of new energy buses accounted for 67.12% and 59.79% respectively of the company’s total gross profits.
Insiders believe that Tunghsu Optoelectronic has provided strong supports for Sunlong’s robust growth. In March this year, Tunghsu Optoelectronic (000413.SZ) announced its purchase of 100% shares of Sunlong through payment by cash and issuing shares with a combined value of three billion RMB . Li Quannian, in charge of Tunghsu Optoelectronic New Energy Vehicle Project, reveals that Tunghsu will provide unconditional assistance to help Sunlong expand in the new energy vehicle industry.
Set up in September 2005, Sunlong is one of the major players in China’s bus industry. In 2016, it was listed among the Top 10 Bus Makers in China. Currently, Sunlong buses have made their way to a number of provinces, autonomous regions and municipalities except Tibet and Qinghai. In terms of export, Sunlong is among the Top Five Players with its products reaching Asia, Africa and South America.