CSR lands Zhejiang trolleybus supply deal

CSR Corp has won contracts to supply Ningbo, Zhejiang province, with 1,200 of its "supercapacitor" trolleybuses - a zero-pollution vehicle that features the company's latest charging technology.

CSR Corp and CNR Corp, China's two largest locomotives and rolling-stock manufacturers, have led the recent surge in transport stocks after their merger gained approval from security authority earlier this month.

After completing the acquisition of UK subsea equipment firm Specialist Machine Developments Ltd for around $192 million on Wednesday, CSR said it had signed purchase contracts to supply 800 of the trolleybuses to the Ningbo municipal government, and 400 of them to the city's Yinzhou district.