DBS to convert all of its vehicles to electric by 2026

DBS plans to convert all of its 42 vehicles to electric-powered by 2026.

DBS bank announced the launch of its first electric vehicles (EV) for cash and valuable escort (CVE) services, which would convert all the operational vehicles used by the bank to electric by 2026.

It is working with AETOS Holdings Pte Ltd, a member of the Surbana Jurong Group, and one of the leading safety and security solution providers to businesses and government agencies.

“As part of our commitment to sustainable development, we have been encouraging partners within our ecosystems to adopt carbon reduction practices, in addition to lowering our own footprint," DBS Singapore Country Head Shee Tse Koon said in a statement.

The CVE vehicles are used to transport corporate cash from DBS branches to a cash processing centre. A single CVE vehicle travels more than 170 km a day.