China Railway Rolling Stock Corp is planning to build bullet trains and provide services in developed markets, including the United States and the United Kingdom, to further compete with its established rivals in Europe, Japan and Canada during the 13th Five-Year Plan (2016-20), Chinadaily reports.
CRRC has set a target of 30 percent growth by 2020 in its research and development ability from current levels. This target is especially applicable to its three bullet train manufacturing subsidiaries－CRRC Tangshan Co Ltd, CRRC Qingdao Sifang Co Ltd and CRRC Changchun Co Ltd.
“The company will further develop smart trains. Such trains will use advanced digitalization and automation technologies that enable automatic speed control, condition determination and fault detection. CRRC’s goal is to grab more global market share from its foreign competitors,” Yu Weiping, CRRC’s vice-president said.
The company is in talks with more than 30 countries, including the US, Russia, Brazil, Thailand, Turkey, Saudi Arabia and Iran, about high-speed rail projects.
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