The Story Behind The Chinese Bus Concept Which Turned Out To Be A Scam

The Story Behind The Chinese Bus Concept Which Turned Out To Be A Scam

The Transit Elevated Bus used to be a public bus concept designed to "float" over cars. The purpose was to reduce traffic congestion on China's busy roadways. A model for the TEB debuted at the China Beijing International Tech Expo back in 2016.


Its creators guaranteed that buses would be able to hold 1,200 people and could be built in one year. Construction costs were considered to be less than 1/5th that of subways. However, the TEB turned out to be a scam to dupe investors.


Engadget reported back in 2017 the Beijing police investigated the people behind the TEB for alleged illegal fundraising. More than thirty people connected to the capital-raising platform Huaying Kailai were held as part of that investigation. Autek - the company hired to create the TEB - was owed millions for its work on that bus, and a test track sat unused for months while the prototype gathered dust. The test track has been destroyed since.


Do you wish that this futuristic bus concept had become real?


The Story Behind The Chinese Bus Concept Which Turned Out To Be A Scam The Story Behind The Chinese Bus Concept Which Turned Out To Be A Scam Reviewed by Katerina Pap on 5:22 AM Rating: 5

1 comment

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