Senmiao Technology Limited (NASDAQ: AIHS) has signed a framework agreement with Baijuyi for the leasing of 6,000 automobiles aimed at enhancing its ride-hailing services in China. As of July 2021, 150 vehicles have already been delivered. Baijuyi, a subsidiary of Huapeng, has significant experience in automobile sales and is collaborating with State Grid to develop an innovative ride-hailing ecosystem. Senmiao's CEO expressed confidence that this partnership will support business expansion into new cities, following a successful launch of its online platform with nearly 2.1 million rides completed in June 2021.
BYD, the global leader in electric vehicles, has unveiled a new battery-electric Type D school bus designed for safety and performance. With options for 35, 38, and 40 feet, the bus accommodates up to 84 students and offers a range of 155 miles per charge. Safety features include electronic stability control, a collision avoidance system, and a Predictive Stop Arm™. BYD's technology can reduce fuel costs by up to 60%, making it a cost-effective option for schools. The bus is also equipped with advanced driver comfort features, enhancing overall user experience.
The U.S. Secretary of Transportation has announced $1 billion in funding through the RAISE program to support sustainable infrastructure projects. BYD aims to assist agencies with applications for funding related to electric vehicles, including battery electric buses and trucks, chargers, and energy storage solutions. The evaluation criteria for projects will focus on safety, environmental sustainability, and economic competitiveness, prioritizing those that improve racial equity and create jobs. Applications must be submitted by July 12, 2021.
BYD announced that buyers of its American-made battery-electric transit buses, motor coaches, and heavy-duty trucks can access $165 million in funding through the California Air Resources Board's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). The program opens on June 8, with $165 million available, split into two phases. Various BYD vehicles are eligible for substantial vouchers, with potential increases for vehicles in disadvantaged communities or purchased by public transit agencies. BYD has delivered over 500 electric buses across the U.S., emphasizing its position as a leader in the zero-emission bus sector.