The Chinese are quickly becoming the biggest players in the global bus market.
Already home to some of the biggest players in the industry, think BYD, Yutong, King Long, Higer and Bonluck, the global expansion of the Chinese bus industry continues.
Chinese bus manufacturer, Yinlong, has announced it is acquiring a controlling stake in long established Serbian bus manufacturer, Ikarbus.
The deal will see the Serbian government retain a 26% stake in Ikarbus, however Yinlong will take on around 9.5 million euros’ worth of Ikarbus debts.
Perhaps not surprisingly, the Chinese company plans to extend the Ikarbus product range to electric vehicles.
“Yinlong has serious plans for Ikarbus. It will retain the existing product range and extend it to electric vehicles, which it plans to offer to southeast European countries first and then to the rest of Europe as well.” – Ikarbus CEO Aleksandar Vicentic
Ikarbus was founded in 1925 as an airplane manufacturer but switched to making buses in 1954.
Since 1954 Ikarbus has manufacturer around 20,000 vehicles.
- Related: Electric Yutong buses get to work in Macau
- Related: Big jump in electric bus use tipped for China
- Related: Electric and hybrid bus sales on the up in China
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