ComfortDelGro Australia gets ‘green’ loan to fund hybrids

ComfortDelGro Australia has secured a ‘green’ loan from OCBC Bank to finance a fleet of 50 hybrid buses in the state of Victoria.
By Ben Spencer February 24, 2020 Read time: 1 min
ComfortDelGro Australia receives funding for hybrid buses (Source: ComfortDelGro Corporation)

The manufacturer says each bus features a Volvo Paralell Hybrid driveline which reduces nitrogen oxide and particulate matter by up to 50% and lowers fuel consumption by up to 39% in mixed traffic.

Elaine Lam, head of global corporate banking at OCBC, says: “We hope this green loan by ComfortDelGro sends a positive message to encourage peer industry players to take steps to support sustainable urban development through green financing options.”

Delivery of the hybrid buses has already started with the last batch expected in mid-2022.

 

Mass Transit & MaaS

For more information on companies in this article

Related Content

  • EBRD funds new transport master planning standards for Romania
    August 5, 2014
    In July 2014, the European Bank for Reconstruction and Development (EBRD) awarded funds of around US$1.8 million for the development of sustainable mobility master plans in Romania. The EBRD is the largest institutional investor in Romania. To date, the Bank has invested US$8.9 billion across 364 projects in diverse sectors including industry, commerce, agribusiness, infrastructure, energy and finance.
    Read More
  • BlackBerry $50m fund to help auto providers 
    March 31, 2021
    Companies will have access to up to $100,000 in AWS credits 
    Read More
  • Conscience versus convenience
    June 8, 2015
    David Crawford looks at new ways forward for public transport. By 2025, nearly 60% of the world’s population will be living in towns and cities, increasing their extent and density, and the journeys that people make within and between them. In response, the International Association of Public Transport (UITP) wants to see public transport’s global modal share doubling (PTx2) by the same date. “Success in 2025,” a spokesperson told ITS International, “will save 170 million tonnes of oil equivalent and 550
    Read More
  • Volocopter completes first Saudi eVTOL flight
    June 30, 2023
    Urban air mobility firm is collaborating with Neom smart city development in Saudi Arabia
    Read More

Highlighted Content