Exhibit 10.24 Sales Contract Sales Contract of Guangzhou Cityview Bus Installation Co., Ltd.
Contract number: 2004008 Signing Date: August 6, 2004 Currency: RMB
Party A: Changsha United Electric Power Science and Technology Co., Ltd. Product Type: Hybrid Electric
Power Tourist Bus Unit Price: RMB 430,000
Party B: Guangzhou Cityview Bus Installation Co., Ltd. Down Payment: RMB 150,000
Total Payment : RMB 430,000
Information on Party A:
Payment is billed on: Changsha United Electric Power Science and Technology Co., Ltd.
Bank Name: Hexi Branch of Changsha Construction Bank Account number: 1540061016900207943
Post Add: Room D on 9th floor of Xiaoyuan Buidling, Changsha, P.C. 410000 Contact Person: Yang Weiping
Tel: 0731-8861247 Fax: 0731-2280577
Information on Party B:
Payment is to be received by: Guangzhou Cityview Bus Installation Co., Ltd. Bank Name: Heping Branch of
Zengcheng Industrial and Commercial Bank Account number: 3602053119200000946
Post Add: Zhucun County of Zengcheng, Guangdong Province, P.C. 511370 Contact Department: Sales Dept.
of Guangzhou Cityview Bus Installation Co., Ltd. Tel: 020-82852074 Fax: 020-82854864
Terms and Conditions:
1. Party A shall provide the electric engine and other electric-control equipment, and entrust Party B with the
installation and production of the whole vehicle mode: SJ6110CT3 DESL hybrid power tourist bus
2. Payment Arrangement: Down payment of RMB 150,000 should be made from Party A to Party B within three
days upon signing of the contract; another payment of RMB 130,000 should be made from Party A to Party B
upon completion of the vehicle body by the latter; final payment should be made upon delivery of the vehicle.
3. Delivery Date: September 5, 2004
4. Delivery Way: Party A shall go to the manufacturing place of Party B to check the vehicle; Party B shall make
delivery on the delivery date after receiving the full payment.
5. Quality Insurance: Party B shall provide one-year guarantee service free of char