Intermoney| CAF (CAF) informed the CNMV on Friday that it has signed agreements with the German city of Duisburg and the Danish city of Aarhus to supply a total of 81 Solaris zero emission buses over the coming months, with a combined volume of approximately €50 million.
The city of Duisburg has chosen Solaris to supply 25 Urbino hydrogen buses, 11 of the 12-metre version and 14 18-metre articulated vehicles, with deliveries scheduled for 2024 for the 12-metre vehicles and 2025 for the articulated buses. These buses will be the first hydrogen buses in the German city. Solaris will also supply articulated electric buses to Aarbus, the operator of the Danish city of Aarhus. Aarhus, the second largest city in the Nordic country, has already had Solaris electric buses in its fleet since last year.
Solaris is the number one in the European hydrogen bus market, with a market share of more than 60%. To date, it has delivered more than 100 Urbino hydrogen buses, to be joined by more than 100 vehicles currently under construction.
Assessment: Positive news for CAF, not so much because of the size of the contract, (it would not represent even 1% of CAF’s total portfolio), but because of the fact that it reinforces its European leadership in a technology that could experience exponential growth in the coming years. Despite the supply problems that Solaris is having, a situation that is now showing signs of improving, they continue to show a great capacity for winning contracts. CAF’s current assessment makes us reiterate our buy recommendation, with a P.O of €34.
