China's Yutong Bus Sees Major Surge in Electric Bus Exports

Yutong Bus, the world's largest electric bus manufacturer based in China, is continuously increasing its foreign exports. According to a report by the South China Morning Post, demand for electric buses is rising rapidly in countries such as Australia, Malaysia, Saudi Arabia, and Morocco. The company's Asia-Pacific CEO stated that demand for public transport abroad is growing quickly, and international buyers are now seeking more premium electric buses.

For the company, located in Zhengzhou in China's central Henan province, the foreign market has become extremely important. Currently, more than 50 per cent of the company's total revenue is generated through foreign sales. The share of new-energy models, including pure-electric and hybrid vehicles, in the company's exports has reached 25 per cent this year. Notably, this share was only 3 per cent in 2018, indicating a major surge in the export of electric vehicles.

According to the company, Yutong holds a share of more than 10 per cent in the sector of large and medium-sized buses as well as coaches in the global market, including China. In this sector, the company faces competition from other Chinese firms such as BYD, Zhongtong Bus, and Xiamen King Long United Automotive Industry, as well as global giants like Mercedes-Benz and Volvo.

On the other hand, India is also strengthening its grip on global trade. According to a report by Mint, Union Minister of Commerce and Industry Piyush Goyal stated at the 'Young Leaders Discourse Forum' held at Kirori Mal College, Delhi, that India is emerging as a preferred trading partner. Many countries wish to enter into preferential and free trade agreements with India. Goyal expressed confidence that India's exports would reach 1 trillion dollars this financial year.

Goyal informed that last year India recorded its highest-ever exports of 863 billion dollars, and a growth target of 16 per cent has been set for the current year. In the first six months of the year, exports increased by 14 per cent to 480 billion dollars. To achieve the annual target, exports of 520 billion dollars are required in the remaining six months. He added that October was also good, although official figures are yet to be released. Goyal stated that India could have set a target of 900 billion dollars, representing a 5 per cent growth over last year, but the government has chosen a more ambitious target. This 900 billion dollar target was also double the global trade growth rate of 1.9 per cent estimated by the International Monetary Fund (IMF). However, the IMF recently revised this estimate to 3.5 per cent, for which India's export performance could be a reason.

Mentioning India's economic progress, Piyush Goyal said that the country has emerged from the 'Fragile Five' economies to become one of the world's leading and fastest-growing large economies. India's talent pool, young workforce, democratic system, decisive leadership, and domestic demand for quality goods are responsible for this success. India's average age is below 30 years, and a population of 140 crore creates significant demand. He called upon the youth to contribute to the ambition of making India a developed nation by 2047.

Additionally, Goyal chaired a high-level roundtable conference at Vanijya Bhawan for the development of the biopharma startup ecosystem and bio-economy. Organized by DPIIT, NITI Aayog, and NITI Frontier Tech Hub, the meeting emphasized rapid regulatory approvals, financial accessibility, shared infrastructure, and collaboration between industry and academia. The discussion focused on single-window clearance, simplification of the patent application process, and 'Biopharma SHAKTI' announced in Budget 2026-27. There was talk of reducing costs and helping startups by developing shared laboratories and clinical trial facilities.

In global politics, the results of the US midterm elections, in particular, could affect India. According to a report by The Hindu, negotiations for a trade agreement between India and the US could accelerate after Democrats gained control of both the Senate and the House of Representatives. However, experts believe that high tariffs could be imposed on India until an agreement is finalized. According to Ajay Shrivastava, founder of the Global Trade Research Initiative, President Donald Trump, following failures in foreign policy against Russia, China, and Iran, would want to increase pressure on India to achieve a quick win to secure markets for American agricultural and industrial goods.

According to Deep Pal of the Kon Advisory Group, any decision by the Trump administration must now appear as a 'win' for domestic Republican voters. On the other hand, Indian negotiators may see this situation as an opportunity to secure a more favorable agreement. However, the White House has remained firm on its policies rather than retreating. Notably, under the 'Lindsey O. Graham Sanctioning Russia and Iran Act 2026', there is a provision to impose tariffs up to 100 per cent on countries like India that purchase large quantities of oil and gas from Russia, which has received bipartisan support.

Yutong Bus is a leading Chinese vehicle manufacturer primarily involved in the production and export of buses and is currently one of the world's largest electric bus manufacturers.