Naming Right for the 1st Maglev Train to be Auctioned

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Last updated at: (Beijing Time) Thursday, January 16, 2003

Naming Right for the 1st Maglev Train to be Auctioned

The Shanghai Maglev Transportation Development Company is to auction the right to name the world's first commercial magnetic levitation train next month.

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The Shanghai Maglev Transportation Development Company is to auction the right to name the world's first commercial magnetic levitation train next month.

The company's deputy general manager, Song Xiaojun, told reporters that the move is designed to fully tap the intangible asset value of the magnet-propelled train. Total investment in the project has reached 1.2 billion US dollars, with not a penny needed from the state.

The successful bidding company is expected to enjoy the naming right for two years, including the right to advertise on the carriage seat coverings.

The train is the first commercial application of Germany's "maglev" technology, by which the train literally floats above the track on a magnetic cushion at speeds of up to 430 kilometers an hour.

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