China's "busy bus" running over the car is a possibility of fraud

Development that was progressing toward commercialization in China "Transit Elevated Bus(TEB) ", commonly known · bus is a ride of the idea that" It runs across the road and is not affected by traffic congestion ". It is a near-future looking electrical bus that became a topic on the Internet at one time, but it is clear that local authorities in China have begun investigating the fact that this may be "fraud."

It's official: China suspects its "car-eating," traffic-straddling bus is a total scam - Quartz
https://qz.com/1020128/its-official-china-suspects-its-car-eating-traffic-straddling-bus-is-a-total-scam/


China is investigating that weird, traffic-straddling bus, which in retrospect was totally a scam - The Verge
https://www.theverge.com/2017/7/3/15916032/teb-elevated-bus-china-investigation-scam

The TEB, which was developed in China, is an electrically driven bus that runs across the highway and can carry as many as 300 passengers at a time. It was a groundbreaking ride proposed as a solution to traffic congestion and air pollution prevailing in China and it was also announced that in August 2016 the first real run test will be conducted on the road near Beijing Port .

By looking at the following article, you can see what the TEB look and decoration was supposed to be.

China's "busy bus" aimed at avoiding traffic jams turned into a real vehicle, and experimental driving started in the future - GIGAZINE


However, local authorities in China announced on July 2, 2017 that they will suddenly remove the 300 meter track that the TEB was planning to travel. In addition to this, Beijing Police also announced that it began investigating the online financial platform Huaying Kailai, which is involved in the TEB project on charges of illegal fund raising. Beijing's Dongcheng District Police Bureau said in a statement that it is working to recover funds from Huaying Kailai and to TEB-1 investors "to report to the local police department We advise you. The number of investors investing in Huaying Kailai related to TEB exceeds 30 people.


Bai Zhiming, CEO of TEB Technology Development, who is in charge of the development of Huaying Kailai and TEB, announced that the QBuojima government had canceled the plan to lay the TEB, announced to the Chinese media, "TEB is China's other We will move to the city of Taiwan, "he said, not saying that TEB's practical implementation plan will not end. However, looking at the Chinese online judgment database, it seems that at least 72 individual investors are suing Huaying Kailai and Zhiming. Huaying Kailai and its subsidiary raised 9.1 billion yuan (about 150 billion yen) of funds by October 2016.

Quartz is investing heavily in China, although it is active, investment in investment management products that are suspicious mainly on online P2P investment because there are almost no regulations, we point out that we are repeating failures many times.