American Ikarus marketed and assembled transit buses in the United States. It was 75 percent owned by North American Bus Industries and 25 percent owned by Ikarus.
Hungarian-born United States resident Peter Rona created the First Hungary Fund to capitalize on what he saw as a wealth of knowledge in his home country. In August 1992, he purchased Union City Body Company which, prior to bankruptcy, marketed and assembled Ikarus buses in the United States. American Ikarus was created and owned by a new holding company called North American Bus Industries. Rona offered 25 percent of American Ikarus to Ikarus of Hungary in return for one of their properties.
- Hofheinz, Paul. Reverse Engineers: Hungarians Design Buses Made in the U.S. 11 April 2000. The Wall Street Journal.