Zero-emission bus manufacturing, Wrightbus has announced a £150 million finance package from HSBC UK to ramp up low-carbon transport fleets
The deal will support Wrightbus to double its existing funding and underline its ambitions to become a global mobility leader, with sales from Ballymena to Brisbane.
The company was rescued from administration in 2019 by entrepreneur Jo Bamford and now employs more than 2,300 people and produces 1,200 buses per year – 95% of which are zero-emission.
Transforming diesel buses into electric vehicles
HSBC’s funding features hedging and working capital support, allowing Wrightbus to accelerate production at its Northern Ireland and Malaysia factories. Furthermore, the funding will help develop new technologies, broaden the product offering, and support the growth of the NewPower and Rightech divisions of the business.
NewPower is Wrightbus’s repowering division, with a growing order book from operators across the UK. Engineers take existing diesel buses and convert them into electric vehicles.
Rightech was launched in January 2025 and offers a suite of ready-to-go battery-electric vehicles.
Wrightbus CEO Jean-Marc Gales said the company had set a bold vision for its future.
“This is an important day for everyone connected with Wrightbus – not just the 2,300 employees but the 7,500 jobs we support in the wider supply chain,” he explained.
“Our success is crucial to so many jobs and industries, so we must work relentlessly to keep up this progress.
“This deal is a crucial step as we accelerate our growth and invest in decarbonising public transport with electric and hydrogen-powered buses. Not only does it mean we can provide cleaner and greener vehicles to UK bus operators, it also provides us with foundations for broadening our international reach, with a particular focus on ramping up production in Malaysia as we expand into the Asia Pacific market.”
Wrightbus Executive Chairman Jo Bamford explained: “With every new order and every entry into a new territory we’re flying the flag for UK manufacturing.
“HSBC UK’s support and detailed knowledge of our industry will help us lead the way in a new era for buses as we expand our offering across the globe.”
George Saunders, Capital Markets Director at asset management firm HYCAP which helped structure the deal, said: “The tailored solutions provided by HSBC deliver operational flexibility across the capital requirements of the business, enabling it to deliver electric and hydrogen buses at the speed and scale required to be a key transport decarbonisation partner.”
Akhil Shah, Relationship Director from HSBC UK, explained: “Wrightbus is a remarkable UK success story. Having been bought out of administration just six years ago, the business has grown from employing around 50 people in 2019 to more than 2,300 today. HSBC UK’s end-to-end experience across the public transport sector made us the ideal choice to become the business’s main backer and this new injection of funding puts Wrightbus in prime position to deliver on its ambitious aims.”
Rohit Moudgil, Head of Manufacturing and Industrials for HSBC UK, added: “HSBC UK is proud to support Wrightbus who are contributing to the decarbonisation of the public transport system in the UK. The transaction underlines our commitment to supporting the entire zero-emission vehicle ecosystem, connecting manufacturers, supply chains and end customers. Our sector team and coverage bankers are committed to providing the financial solutions businesses need to accelerate UK’s transition to zero-emission vehicles.”
