| 02-01-2008
Wang
says Yutong will expand its investments in research and development (R&D)
to improve the technological content of its products, rather than competing through
low prices in overseas markets. It will also continue to inject 4 per cent of
its annual turnover into R&D, he adds. All of the world's major bus makers,
including Volvo, Mercedes-Benz, MAN and Neoplan, have started making buses in
China. The company has established a partnership with German vehicle manufacturer
MAN. The joint venture is based in Zhengzhou, capital of Henan, and produces bus
chassis and spare parts. Yutong
plans to raise its annual turnover to 30 billion yuan (US$3.75 billion) by 2012.
It also makes construction machinery and special-purpose vehicles, and operates
in the real estate sector as well. Zhengzhou
Yutong Group Co., Ltd is a large-scale enterprise group with bus making as the
core business, with engineering machinery and real estate as the strategic business
and at the same time giving attention to other investment portfolios. Yutong Group
ranked 324 in "China's Top 500 Enterprises", meanwhile, it stood 41
in "China's 500 Most Competitive Enterprises of the Year 2006" as the
only bus enterprise to enter this list. Yutong Group will develop into a large-scale,
trans-regional, diversified and high-tech international enterprise group, covering
buses, engineering machinery and vehicle components and integrated with manufacturing,
science and development, investment and trade, thus creating No. 1 bus brand of
China and becoming a main international bus supplier. Editor
Frederick Wei from Chinabuses.com
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