Yorkshire electric bus importer brings hundreds of vehicles to UK with £93.5m funding package
Pelican Engineering Group has used bank funding to bring battery electric buses to the country from China.
Electric bus and coach firm Pelican Engineering Group has secured an extended £93.5m funding package that is allowing it to supply hundreds of Chinese vehicles into the UK.
The Castleford-based commercial vehicle specialist has extended its Green Loan and Sustainable Trade Instrument Facility from HSBC, having previously borrowed £60m in 2022. It has allowed Pelican Bus and Coach – part of the wider group – to import up to 600 battery electric, zero emission buses from Chinese manufacturer Yutong, to UK bus operators.
Pelican is the sole UK and Ireland importer and distributor for Zhengzhou Yutong Bus, based in China’s central Henan province, which is reported to be the world’s largest electric bus maker. The latest order – which will take Yutong buses operating in the UK to nearly 1,000 – includes fully electric single deck E10 and E12 buses, more than one hundred GTe14 long range electric intercity coaches, 123 electric U11DD double deckers and electric wide body airside buses.
Pelican-supplied Yutong buses are in operation on routes in Newcastle, Stockton, Leeds, Chesterfield, Glasgow, Aberdeen, Inverness, Edinburgh, Carmarthen, Cardiff, Leicester and Newport.
Richard Crump, managing director at Pelican Bus and Coach, said: “HSBC UK has shared our vision and commitment to putting more electric buses into service across the UK since they funded our very first electric bus in 2017. With this Green Loan and Sustainable Trade Instrument Facility extension, we can continue to support the transition to zero-emission public transport and we look forward to seeing these new buses serve communities nationwide.
“We are proud of our long-standing relationships with both HSBC UK and Yutong and are excited to see these zero-emission buses on the road. Our relationship with HSBC UK dates back to when my grandfather opened a business account, and I would like to thank the bank for its unwavering long-term support for our business.”
Jamie McCullough, corporate relationship director at HSBC UK, added: “Pelican’s growth highlights the pivotal role UK businesses have to play in the shift towards zero emissions transportation. We’re excited to continue backing the efforts of the business as it targets further growth, helping to decarbonise the UK transport sector.”
Source: https://www.business-live.co.uk/manufacturing/yorkshire-electric-bus-importer-brings-30302531
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Source: BusinessLive.co.uk
