Bus Makers and China's Eco-Transit Plan
BYD share prices have slid hard since 2010 but began picking up steadily in October.
The Asian Development Bank did not specify how it would choose lessors of green buses, simply calling the process is part of its first non-sovereign loan program for sustainable transport in China. The program is part of a $175 billion commitment by cross-border development bank, including Asia's, for the decade ending in 2022.
Several leasing companies have expressed "significant interest" in the China project, the Bank said in a statement without giving details. The Bank is in discussion with a number of financial leasing companies and will pick five, all from China, a publicist for the lender said. It's not clear when these decisions will be made.
If BYD, Hyundai, Foton, Iveco or Volvo get a green deal in China and company fundamentals show no other signs of a coming crash, the contract should drive share prices to the black.At the time of publication the author had no position in any of the stocks mentioned. Ralph Jennings is on LinkedIn. This article was written by an independent contributor, separate from TheStreet's regular news coverage.
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