Grupo Castrosua and Yutong have signed a Letter of Intent (LOI) that seeks to establish a ‘strategic collaboration for the development production and marketing of 100% electric buses aimed at the European market’.
With the LOI signed; the two companies have now begun discussions to further establish their new strategies.
Both companies have emphasised the possibility of the LOI leading to the integration of Yutong’s electrical technologies with Grupo Castrosua bodies. These vehicles would be fully adapted to meet the technical and quality requirements of the European market.
Juan Luis Castro, President of Grupo Castrosua, said:This Letter of Intent with Yutong represents a new milestone for Grupo Castrosua.
We are very proud to start exploring this collaboration with one of the world leaders in electromobility.
The LOI covers ongoing technical and commercial discussions in engineering, design, production and the future adaptation of vehicles to confirm to European safety, quality and sustainability regulations.
Mr. Liu Guang, CEO European Region of Yutong Bus, said:For Yutong, this Letter of Intent with Grupo Castrosua is an exceptional opportunity to further explore our cooperation in Europe. Castrosua brings extensive experience in European design, customisation and regulatory compliance, while Yutong brings its technological leadership and expertise in electrical systems.
