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

  • Green light for 200mph Porsche hybrid
    January 31, 2012
    The supervisory board of Porsche yesterday gave the green light to series development and production of the Porsche 918 Spyder.
    Read More
  • Infrastructure funding and road user charging – debate continues
    February 1, 2012
    Jack Opiola provides an overview of the ongoing debate over US infrastructure funding and the progress – or lack of it – towards vehicles miles travelled road user charging. The future funding of transportation and mobility infrastructure is attracting increased attention. There has been sharp debate in the US, where landmark reports from the National Surface Transportation Infrastructure Financing Commission and the National Surface Transportation Policy and Revenue Study Commission both stated that the cu
    Read More
  • Four UK cities awarded funding to drive green car revolution across
    January 28, 2016
    Four cities have been awarded significant funds to promote green vehicle technology after successfully bidding for a share of a multi-million pot created to support the take-up of plug-in electric cars across the UK. Transport Secretary Patrick McLoughlin announced the winners of the Go Ultra Low City Scheme, after the successful cities proposed a number of initiatives to support greener vehicles as part of a government competition.
    Read More
  • Sales of light duty electric vehicles expected to rise
    January 23, 2015
    A recent report from Navigant Research, Electric Vehicle Market Forecasts, provides a comprehensive overview of the overall light duty vehicle (LDV) and the light duty electric vehicle (EV) markets, including global forecasts for annual vehicle sales and vehicles in use through 2023. It indicates that worldwide sales of light duty EVs are expected to increase from 2.7 million in 2014 to 6.4 million in 2023. The use of EVs, which now account for a small but growing share of the world’s LDV market, has bee
    Read More

Highlighted Content