For the supply of technology and components to manufacture electric buses, VinFast Trading and Production LLC has contracted two agreements with Siemens Vietnam, a unit of Siemens AG.

Vietnam: Vietnam's biggest private conglomerate, VinFast, signed an agreement with Siemen’s AG to supply technology and components of electric buses in South East Asia.

Additionally, VinFast will also produce electric cars, electric motorcycles and gasoline cars from its $1.5-billion factory being built in Haiphong City. In June, General Motors agreed to transfer its Vietnamese operation to VinFast, which will also solely distribute GM’s Chevrolet cars in Vietnam.

According to the company, even though these are metro Phoenix-specific partnerships, the businesses are national, and will serve as a learning from these programs will give us a network of partners when we launch in new cities down the road," Waymo said in a blog post.

The CEO of Siemen’s said that Electric buses are an essential element of sustainable urban public transportation systems.

According to TechSci Research, the move will open enormous potential for the Electric Buses market globally, despite having a few hiccups. TechSci Research predicts that the growing focus of leading automotive and technology companies on electric vehicle technologies coupled with favorable government policies and rising concerns regarding safe driving will drive the global Electric & Hybrid Electric Buses market in the coming years. Over the last few years, increasing demand for alternate transportation means for controlling air pollution levels across the globe along with providing better transportation services through a reliable and fast mobile platform are aiding global Electric & Hybrid Electric Buses market. Rising environmental concerns and increasing government investments in fuel saving technologies and alternative fuel vehicles is driving growth in global electric & hybrid electric vehicles market. Additionally, increasing urbanization coupled with rising air and noise pollution is anticipated to emerge as other contributory factors propelling demand for electric & hybrid electric buses in the coming years. Though, global market for electric & hybrid electric buses is in its nascent phase, an increasing number of global bus manufacturers are opting to manufacture electric & hybrid electric buses as substitutes to diesel fueled buses. Advancements in the field of electric mobility and rising adoption of these buses in developed and emerging economies is expected to expand market size for global electric & hybrid electric bus market through 2021.

According to the recently published report by TechSci Research, “Global Electric & Hybrid Electric Buses Market By Vehicle Type (Light Duty Electric and Hybrid Electric Bus, and Heavy Duty Electric and Hybrid Electric Bus), By Technology, Competition Forecast and Opportunities, 2011-2021”, global market for electric & hybrid electric bus is projected to grow at a CAGR of 17% during 2016 - 2021. Hybrid electric buses accounted for majority of the market share in 2015, however, sales of pure electric buses are expected to grow at a faster pace over the next five years. Moreover, the market is forecast to witness significantly higher sales of heavy duty electric & hybrid buses over the course of next five years compared to light duty variants. In 2015, a major share in global demand for electric & hybrid electric buses was accounted for by China, predominantly on account of majority of the major electric & hybrid electric bus manufacturers such as BYD Company, Zhengzhou Yutong Bus, Zhongtong Bus & Holding, Xiamen King Long United Automotive Industry and Shenzhen Wuzhoulong Motors being Chinese electric & hybrid bus manufacturers.

According to the recently published report by TechSci Research, “India Electric Bus Market By Vehicle Type (<30 Seater and >30 Seater), By Drivetrain Technology (Battery Electric Bus and Plug-in Hybrid Bus), Competition Forecast & Opportunities, FY2017-FY2023”, India electric bus market is projected to grow at a CAGR of around 124% to surpass $ 667 million by FY2023. With growing need for controlling GHG (Greenhouse gases) emissions emitted by vehicles, the government is encouraging the use of electric powered vehicles across various states, which is boosting the demand for electric buses in India. The electric bus market across India is expected to register a robust growth over the coming years owing to consistently growing affordability of electric buses due to high subsidies provided by the government coupled with various leading commercial vehicle manufacturers foraying into the country’s electric bus market.