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Ukrainian Yuzhmash to produce 5,000 electric buses worth $850 million for South Korea

Source : 112 Ukraine

This is one of Ukraine's largest contracts in the industrial sector in recent years
12:34, 10 July 2020

State Enterprise “Production Association Yuzhny Machine-Building plant named after A.M. Makarov” (Yuzhmash)
Yuzhmash/Press Center

State Enterprise “Production Association Yuzhny Machine-Building plant named after A.M. Makarov” (Yuzhmash) and the South Korean firm Caris have signed a contract to build 5,000 electric buses for South Korea, Ukraine’s Prime Minister Denis Shmygal reports.

"Our state enterprise Yuzhmash has signed a contract with the South Korean company Caris for the production of 5,000 electric buses. The total contract value is almost 850 million dollars," the statement said.

The Prime Minister noted that it was one of Ukraine's largest contracts in the industrial sector in recent years. Shmygal also said that production was an economic model that the government wanted to enshrine in its economic programs.

Related: Industrial production in Europe reaches its lowest level in 25 years

"Producing value-added products, not exporting raw materials. This is an economic model that our government wants to develop in Ukraine, and we set this as one of the main goals in our economic programs," he said.

As we reported earlier, according to the Minister of Finance Serhiy Marchenko, there are reasons to suppose that Ukraine is getting out of the crisis.

Related: Ukraine abandons Russian space project

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