Bus maker gains foothold in Venezuela
Zhengzhou Yutong Group Co, China's largest bus manufacturer by production capacity, is pursuing a stronger foothold in Venezuela by assisting the country to build a new plant and more after-sales service stations, as Chinese automakers focus on this new and lucrative market in Latin America.
The plant in the western state of Yaracuy has an expected assembly capacity of 3,500 buses a year by 2017. It will produce three models of buses for urban, suburban and rural use, including 25- to 54-seat diesel and gas buses.
Tang Yuxiang, chairman of Yutong Group, said the major force behind this strong partnership is Venezuela's stable economic growth, boosted by its energy sector, fast transportation infrastructure development and enhanced regional connectivity with neighboring nations.
