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Lending & Credit Markets

Staff Reporter

, UK

Published:

7 months ago

One of the iconic red double decker buses in London. Photo by Dave Kim via Unsplash.

Japan’s MUFG invests $5.9m in Hitachi to launch 1,000 e-buses in the UK

The two will make business models enabling operators to clinch EV funding.

MUFG bank is investing £4.7m in Hitachi ZeroCarbon’s Next Gen project, which aims to introduce 1,000 new e-buses in the United Kingdom.

The move comes in the heels of a business co-creation agreement between MUFG and Hitachi ZeroCarbon, signed on 22 December 2023.

ALSO READ: Japanese banks back fund to develop space industry

The two companies aim to establish business models and structures that will enable fleet operations to receive funding for EV vehicles and assets.

Hitachi ZeroCarbon reportedly aims to develop and expand its business in the UK, Europe and globally, by leveraging its advanced skills and expertise in the operation and management of batteries, supported by its parent company, Hitachi, MUFG said in a press release.

(US$1 = £0.79; as of 15 May 2024, 3:01 PM)

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