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In 2025, the global electric bus market has exceeded 34.3 billion US dollars. According to Research Nester's forecast, this figure will soar to 119.56 billion US dollars by 2035, with a compound annual growth rate of 13.3%. The Chinese market has become the leader of this change. By the end of 2024, the number of pure electric buses in China has reached 487,500, accounting for 74.1% of public electric buses, an increase of 20.3 percentage points compared with the end of 2020. Regional market analysis shows that by 2035, the Asia-Pacific region will occupy 78.4% of the global electric bus market.
On November 28, 2025, two presidents of our company visited the production base of Zhejiang Zhongche Electric Vehicle Co., Ltd. and were deeply impressed by its technical strength and production scale in the field of electric buses.
In the subsequent business negotiations, the two sides focused on establishing a "authorized direct" cooperation model. This means that we are expected to directly obtain the authorization of many mature products of the company and integrate them into our export product system. Through this negotiation, we have clarified the direction of taking electric buses as our company's strategic export of new products. The mature system of China Electric in vehicle after-vehicle service, parts supply and technical support has also provided a solid guarantee for the smooth progress of future cooperation.
