BYD Loses USD269 Million Order for Electric Buses After Shenzhen Pulls Plug
Yicai Global
/SOURCE : Yicai
BYD Loses USD269 Million Order for Electric Buses After Shenzhen Pulls Plug

(Yicai Global) July 13 -- BYD Auto Co. [SHE:002594], China's biggest maker of electric vehicles, has lost an order from Shenzhen Western Bus Co. worth nearly CNY1.8 billion (USD269 million) just a week after winning it.

The Shenzhen government-owned bus operator cancelled its procurement plan for 2,919 new energy vehicles due to an adjustment in transport capacity, Shenzhen-based BYD said in a statement on July 11.

About 80 percent of the vehicles were 10-meter electric buses costing CNY420,000 each. The remainder were eight-meter buses and 10-meter high-speed buses costing CNY630,000 and CNY680,000 respectively. BYD gave no details about the type of buses, but they are unlikely to be BYD's K9, which cost CNY2 million each.

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