Kwun Chung Bus (00306.HK) was awarded a project contract by the Airports Authority last month for Hong Kong's first autonomous public transport system, which will take about 3 minutes by car to Hong Kong Port of Zhuo O Bridge and Airport Space City. Kwun Chung Bus Chief Operating Officer Wong Cheuk Tsing said that the total investment of the project is $3.88 million and is expected to be put into service by the end of next year. The initial target will be about 500 people per bus one-way per hour, and the medium-term target will increase to 2,000 people.
Wong Cheuk Tei said that the company's advantage lies in many years of experience in Hong Kong and cooperation with several partners. Today, the vehicle supplier of the project is Xiamen Jinlong, the autonomous driving system is used by Baidu (09888.HK). Kuan Chung invests mainly in manpower and technology applications in the project, and the revenue model is mainly achieved The requirements of the agreement have been paid accordingly for the current preparation phase, and after the route starts running, it is considered that it can be replicated step by step and will become one of its core business in the long term.