(Yicai Global) Sept. 28 -- China's magnetic wire maker Roshow Technology plans to team up with a Russian municipal government to produce electric buses in the city of Perm in central Russia.

Roshow signed the memorandum of understanding with Perm's local government in Shanghai on Sept. 25, the Zhejiang province-based firm said in a statement yesterday. The company will first transfer two electric buses to the other party for performance testing.

The announcement did not specify more details on the project.

Editor: Emmi Laine