Just after 80 units of hybrid electric bus batteries were ordered from Kunming Public Transportation Group, Microvast entered into a contract with Chongqing Public Transportation Group (CPTG) for 200 electric bus batteries. Microvast will supply the battery packs to CPTG with 50 units equipped with rapid charge technology for electric buses and 150 units for fast charging, plug-in hybrid electric buses. These buses will be gradually integrated into commercial transit operations inChongqing by the end of June 2012.
The 200 electric buses will be built by Chongqing Hengtong Electric Bus Power Systems Co., Ltd (CHEBPS), a member of Microvast. CHEBPS is a joint venture owned by Microvast and Chongqing Hengtong Bus. CHEBPS will focus on development and production of electric power systems for buses, utilizing Microvast’s rapid charge technology with Hentong’s bus production ability.