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

  • Adaptive control reduces travel time, cuts congestion
    January 20, 2012
    Situated in San Diego County, California, the growing city of San Marcos has seen its population increase by 53.5 per cent since the turn of the century. Although this dramatic population increase has spurred economic growth bringing new business, homes and opportunities to the city, it has also increased traffic congestion along its central corridor, San Marcos Boulevard. This became the most congested arterial in the city, and, by 2006, the second-most travelled corridor in San Diego County.
    Read More
  • Electric vehicles in construction are the future, say researchers
    December 20, 2016
    The industrial and commercial sector is the largest part of the electric vehicle value market and that will continue to be the case according to analysis in the IDTechEx report, Industrial and Commercial Electric Vehicles 2017-2027. Buses are the largest part of that and they are mainly made in China for China, where typical orders are ten times the size of orders elsewhere. Less dramatically, construction, mining and agriculture do not see 70 per cent grants for EV versions yet they are steadily becomin
    Read More
  • Let the market decide on green technologies - Global Automakers
    May 21, 2012
    “To encourage wider deployment of green technologies, including innovations that our members have on display at the Washington Auto Show this week, the government should not pick winners and losers but let the marketplace decide,” said Global Automakers’ president and CEO Michael J. Stanton, whose association represents 15 international automobile manufacturers.
    Read More
  • Major funding for UK’s low carbon automotive technology
    January 19, 2016
    Five new innovative projects to develop new low carbon and energy efficient technology in the automotive sector have been awarded US$107 million of joint UK government and industry funding. The measure, which is set to boost jobs and growth in the sector, was announced today by Business Secretary, Sajid Javid, on a visit to the Morgan Motor Company. The funding has been awarded by the Advanced Propulsion Centre, a 10-year, US$1.4 billion joint partnership between Government and the automotive industry. T
    Read More

Highlighted Content