Description
Yutong is the global market leader in buses, with close to 90% of revenue coming from sales in China. It is also China’s largest bus manufacturer with around 30% of market share in medium and large buses. With the highest production capacity in its core segment, the company continues to benefit from the Chinese central government’s subsidies for electric vehicles. Yutong’s current product portfolio covers nearly all bus segments, including motor coach, shuttle, and school bus. While the firm started as a state-owned enterprise, a team of 23 company managers launched a management buyout in 2001 and eventually took over the firm in 2003.