Eight-figure funding means company can supply up to 600 zero emission buses

A Wakefield-based company has secured a significant order of electric buses for the UK with the support of an eight-figure funding package from HSBC UK.

Pelican Engineering has expanded its existing Green Loan and Sustainable Trade Instrument Facility from HSBC UK, previously borrowing £60m in 2022, to now securing more than £90m.

This is enabling the supply of up to 600 new battery electric zero emission buses from Yutong, a Chinese manufacturer, which will then be purchased by UK bus operators.

Pelican Bus and Coach, part of Pelican Engineering, is the sole UK and Ireland importer and distributor for the Zhengzhou Yutong Bus.

The new vehicle order will grow the number of Pelican supplied Yutong buses operating in the UK to nearly 1,000.

This latest order of vehicles imported with HSBC UK funding includes fully electric single deck E10 and E12 buses, over 100 GTe14 long range electric intercity coaches, 123 electric U11DD double deckers and electric wide body airside buses.

Collectively, the 600 buses supplied by Pelican Engineering with support from HSBC UK will save an estimated 27,600,000 kgs (27,600 tonnes) of CO₂ emissions from British transport.

Pelican-supplied Yutong buses are in operation across the UK, servicing routes in Glasgow, Aberdeen, Inverness, Edinburgh, Carmarthen, Cardiff, Leicester, Newport, Leeds, Chesterfield, Stockton and Newcastle.

The £93.5m Green Loan and Sustainable Trade Instrument Facility will position Pelican as one of the largest zero emission bus suppliers in the UK.

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.”

Pelican Engineering Co was established in 1919 and has traded continuously since then. The firm is currently managed by the grandson of its founder.