Traction Technology has signed a deal to jointly develop single deck hybrid buses with Optare, one of the UK’s main bus and coach manufacturers.
The news added 4.5p to the shares taking them to 35p. The first prototype bus is expected to be produced in spring next year. Optare has an option to build a minimum of 10 buses during 2008. The option is dependent on the technology achieving its fuel economy and emissions targets. These buses will be offered to bus operators in the UK. Optare has an annual turnover of £60m.
There are already four trials in progress of Traction’s technology in Merseyside, Suffolk, Sussex and Surrey.
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