In an August 20 recent press release, Seven Stars Cloud announced a ground-breaking, three-year, $24 billion deal with China’s largest electric buss full-service operator to provide two distinct financing campaigns.
The Biggest Deal to Hit the Industry This Year
According to a PRNewswire press release, Seven Stars Cloud Group, Inc., a leading global technology firm focusing on digital asset production and distribution, has signed a three-year exclusive deal worth around $24 billion with China’s largest electric buss full-service operator, National Transportation Capacity Co Ltd.
“This is a truly ground-breaking deal globally for blockchain-based fintech companies to gain such a large-scale, asset-backed, contract,” said Bruno Wu, the Chairman, and CEO of Seven Stars Cloud.
The ground-breaking deal will allow Seven Stars Cloud to issue fixed income lease financing-based products, through a global strategic alliance network which operates in a regulatory compliant manner for large-scale electric bus upgrades. The $24 billion deal is part of the Chinese government’s plan to replace all buses with electric ones by 2021.
Recent data shows that the market size for the mandatory replacements and upgrades necessary to achieve fully electric buss operations in China is estimated at around 1 trillion RMB, which is approximately $145 billion.
The National Transportation Capacity Co is the largest full-service bus operator in China, with steadily growing sales, lease financing, a vast charging station network and groundbreaking technology enabling real-time data services.
Two Distinct Campaigns
As described by PRNewswire, under the terms of the deal, Seven Stars Cloud will use its global strategic alliance network provide two distinct financing campaigns – one based in China, and the second one spread out across global markets.