byd, china's largest new-energy vehicle maker, said last week that it won a 1.52 billion yuan (us$228 million) preliminary bid to supply hundreds of electric buses to shenzhen's state-owned public transportation operator, the south china morning post reported.
the shenzhen-based automaker, which counts u.s. billionaire warren buffett as an investor, is expected to provide four batches of new-energy buses to the shenzhen bus group under the tender offer, according to a filing to the hong kong stock exchange.
the official websites of the shenzhen bus group and shenzhen international tendering co. carried the bidding results.
the deal was another boost for the automobile and battery maker's prospects only days after south korean conglomerate samsung electronic snapped up a 3 billion yuan, or 2 percent, stake in byd, with the funds to be used to ramp up its electric vehicle production.
"if the project is successfully implemented, there will be a positive effect on the operating result of the company," company chairman wang chuanfu said in a statement.
earlier last month, byd said the bulk of a 1.8 billion yuan deal that it secured from another state-owned bus operator a week earlier had been canceled.
the company said on july 11 that the shenzhen western bus co. terminated a procurement proposal for 2,228 10-meter-long electric buses from byd auto industry.
technology and car giants, both in china and abroad, have been betting on the burgeoning new-energy car industry.
separately, chinese carmaker geely automobile holdings said in a statement last week that it intended to spin off its stakes in two low-end electric vehicle ventures for a total of 1.35 billion yuan to focus on the premium market segment.
"the disposals will allow the group to allocate more time and resources to the development of mid- to higher-end automobiles," it said in a regulatory filing.
