Fisher Coachworks Raises Cash for Lightweight Hybrid Buses
It's not just cars that are getting a cleantech makeover in Michigan; buses are getting a shot at cleaning up, too. Troy, Mich.-based Fisher Coachworks has raised $3.2 million for its new lightweight plug-in hybrid buses, according to a regulatory filing found by peHub.
Hybrid buses are becoming a common sight in bus fleets around the world, but Fisher is developing a bus using lightweight stainless steel that it says is half the weight and gets at least twice the fuel efficiency of current hybrid models. The investors in the company were not disclosed, and the regulatory filing says the cash is part of a larger round of funding, expected to pull in a total of $4.25 million for Fisher.
That cash could come in handy, as the company is planning to invest $7 million to set up a factory in Livonia, Mich., to produce the new buses, creating 539 new jobs.
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