UK's FirstGroup partners with Hitachi to buy $124 million of electric bus batteries
November 17, 2023 at 02:34 am EST
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(Reuters) - British transport operator FirstGroup said on Friday it will enter into a strategic partnership with Hitachi for buying up to 1,000 electric bus batteries for about 100 million pounds ($123.9 million) as part of expansion of its electric bus fleet.
The Aberdeen-headquartered company said the partnership is expected to contribute about 3 million pounds per annum to the group adjusted earnings by fiscal year 2026 before any potential operational benefits.
($1 = 0.8071 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Mrigank Dhaniwala)
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).
HITACHI, LTD. 
