CORRECT: BYD looks likely to win $227m Shenzhen electric bus deal
(Corrects size of deal to $227m) Chinese electric vehicle maker, BYD, announced yesterday that it has won a $227m preliminary bid to supply hundreds of electric buses to the Shenzhen state public transport operator. A filing to the Hong Kong stock exchange shows that BYD will provide four batches of electric buses to Shenzhen Bus Group under the tender offer. This deal comes just days after Samsung acquired a $4.5bn stake in BYD, with the funds from that deal expected to be used to increase the latter's electric vehicle production.

An electric bus produced by China's BYD seen in this 2013 file photo. The company expects to win a tender offer for new energy buses for Shenzhen. Photo: AP