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Comfort DelGro to spend $6b on switch to EVs
The Straits Times
|April 01, 2023
Sum equivalent to almost 3 times its current market value; most to be for acquiring EVs
Transport giant Comfort DelGro Corp expects to spend $6 billion to replace the bulk of its fleet of largely combustion-engined buses and taxis with electric vehicles (EVS), said its founding chairman.
The amount is equivalent to almost three times the group's current market value.
Speaking at the group's 20th-anniversary gala dinner at the RitzCarlton, Millenia Singapore on Friday, Mr Lim Jit Poh said most of the investment will be for the acquisition of new EVs.
"The evolution of the electric environment promises to open up avenues and opportunities for new business growth," the 83-year-old, who is retiring in April, told some 800 guests present.
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