Remember how China launched a model prototype of an elevated bus in 2016, which was meant to solve the nation’s traffic congestion? The Transit Explore Bus, which was meant to carry 1400 people at a time, has turned out to be a scam. According to the Chinese authorities, the matter is currently under investigation.
The officials are looking into the fundraising techniques used by the firm that unveiled the one-of-its-kind cutting-edge technology – a bus that would glide over traffic jams without getting off the ground.
In August 2016, footage depicting the prototype of the bus went viral. In the footage, a bus could be seen driving down a track in northern Hebei province. But since it raised a lot of concerns regarding its feasibility and financing, the Chinese authorities decided to investigate.
The firm, known as Huaying Kailai, which is an online lending firm, is being investigated by the Beijing police. As per a report, the firm has connections with illegal financing. Till now, 32 people related to the scam have been detained.