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GoZero Group closes in on $200m funding deal

GoZero Group is edging nearer to securing a major funding agreement with an American global investment firm

New South Wales based zero-emissions bus manufacturer GoZero Group is reportedly coming close to securing a financial agreement with private capital business The Carlyle Group.

As reported by the Australian Financial Review (AFR), the pair have nearly finalised an agreement that will result in a $200 million debt facility and Carlyle joining GoZero’s lending pool.

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Once secured, the deal would allow GoZero to continue pursuing its goal of electrying all 8,000 of the state’s bus network and charging them at the Leichhardt electric bus depot in Sydney.

The funding arrangement would come after GoZero last secured an $80 million funding package from Commonwealth Bank that allowed it to convert diesel school coaches to electric GoZero models for Sydney schools.

On top of owning electric bus brand Nexport and private operator North Sydney Bus Charter, GoZero Group also owns 50 per cent of Foton Mobility Distribution Australia.

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