Automaker BYD signed a contract to produce 700 electric buses for Israel's Dan Bus, Caijingmagazine reported.
The estimated value of the order is 1.5 billion yuan ($236.65 million) as the market price for aBYD K9 electric bus is about 2.1 million yuan.
The vehicles will be Israel's first electric buses. Eventually, half of the country's bus fleet isexpected to be replaced by electric vehicles.