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ZURICH, July 21 (Reuters) - Swiss engineering group ABB and Swedish car and bus maker Volvo said they were setting up a global partnership to co-develop and commercialise electric and hybrid buses with fast charging systems.
The partnership will help pave the way for the rapid deployment of urban e-mobility with a first joint project being planned for next year, the groups said in a statement on Monday.
"Urbanization is at a historic high and is stretching transport infrastructure of cities around the world. Our collaboration will help support sustainable and cost-efficient transportation solutions to meet rising commuter demand," Pekka Tiitinen, head of ABB's Discrete Automation and Motion division, said in the statement.
The first joint project will be the implementation of Volvo electric hybrid buses and ABB's automatic e-bus chargers in the Luxembourg public transport system, where twelve Volvo Electric Hybrid buses will be running on existing lines by 2015, the companies said.
The companies did not reveal any financial details of the deal.
Reporting by Silke Koltrowitz