bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Reuters

Forget luxury limousines, think green buses.
The mainland's electric vehicle sales surged fivefold in the first 10 months of the year, powered by state subsidies.
In a long-awaited take-off, even unlikely firms like a metals trader are pouring money into green transportation.
As demand for luxury and premium cars cools, the Guangzhou Autoshow this week hosts a separate event dedicated to green vehicles. But the rush is fuelling concern in the industry it may add to overcapacity, leaving new entrants struggling to survive even with state support.
"China's green vehicle market will be huge," said Arnold Chan, the deputy chairman of China Dynamics Holdings.
The company quit metals trading to start making environmentally friendly electric buses this year after losing money ever since its 2006 Hong Kong listing.
"There are 2 million buses on Chinese roads. A 10 per cent share of that market would be enormous," said Chan, whose firm is worth about US$440 million by market value.
It is unclear how many electric vehicles could in practice replace buses now in service, but as the world's biggest car market, the mainland is a magnet for new companies.
"I see a lot of people rushing into this business," Chan said. "Many will be weeded out in the future. Only those with real competitiveness can survive."


New entrants add fuel to China's electric bus boom

The mainland's electric vehicle sales surged fivefold in the first 10 months of the year. Photo: Xinhua

Business

China Business

Forget luxury limousines, think green buses. The mainland's electric vehicle sales surged fivefold in the first 10 months of the year, powered by state subsidies.


New entrants add fuel to China's electric bus boom

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Forget luxury limousines, think green buses. The mainland's electric vehicle sales surged fivefold in the first 10 months of the year, powered by state subsidies.

Forget luxury limousines, think green buses. The mainland's electric vehicle sales surged fivefold in the first 10 months of the year, powered by state subsidies.