Spanish Grupo Castrosua and Chinese Yutong have signed a Letter of Intent (LOI) expressing their mutual interest in "establishing a strategic collaboration for the development, production and marketing of 100% electric buses aimed at the European market". This step marks the beginning of discussions between both companies.
Both companies emphasize the LOI contemplates the possible integration of Yutong’s electrical technology with the bodies of Grupo Castrosua, adapted to the technical and quality requirements of the European market. “This Letter of Intent with Yutong represents a new milestone for Grupo Castrosua,” says Juan Luis Castro, President of Grupo Castrosua. “We are very proud to start exploring this collaboration with one of the world leaders in electromobility.” The understanding between Grupo Castrosua and Yutong covers ongoing technical and commercial discussions in engineering,
design and production, as well as the future adaptation of vehicles to European safety, quality and sustainability regulations, subject to the formalization of a definitive agreement. Mr. Liu Guang, CEO European Region of Yutong Bus, highlights: “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.”