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

  • Governments must look beyond short-term spending of public funds
    February 2, 2012
    Phil Pettitt, Chief Executive of innovITS, the UK's ITS Centre of Excellence, argues that governments need to look beyond the short-term when looking to pump-prime economic recovery with public funds. It seems, in the current economic climate, that a 'good' day is one in which no company is announcing job cuts or going into administration. Consumer demand is down and businesses are retrenching, cutting costs and fretting over the consequences of shrinking opportunities and order books. It has not been this
    Read More
  • Smarter mapping makes for more informed decisions
    December 2, 2016
    Following his keynote presentation at the 2016 ITS World Congress in Melbourne, ITS International caught up with Esri founder Jack Dangermond. It is getting close to half a century ago that Jack Dangermond and his wife Laura founded the Environmental Research Systems Institute – known today as Esri - of which he remains president.
    Read More
  • Glasgow finalises its mobility-shift strategy
    February 14, 2024
    Scottish city wants 'far more sustainable and equitable modes' than the private car
    Read More
  • Volvo's electric buses begin operation in Luxemburg
    June 13, 2017
    From the beginning of June, four of Volvo’s all-electric 7900 buses have been in operation in Differdange, Luxembourg, operated by Sales-Lentz, which also has 12 electric hybrids and 30 hybrids from Volvo in its fleet.
    Read More

Highlighted Content