Hamburger Hochbahn announces EUR 1 billion investment

20 June 2024
Record passenger numbers - local transport to become more sustainable

Hamburger Hochbahn announced Friday (June 14, 2024) an investment of EUR 1 billion in its core business in 2024 and to significantly expand local transport in Hamburg. This comes after 468 million passengers used buses and underground trains in 2023, a rise of 21 per cent over 2022. The figure is one million higher than in the pre-pandemic year 2019, the company said. Revenue from local transport also rose by 10 per cent to EUR 587.7 million in the 2023 fiscal year over the record year 2019 .

Project to transform mobility 

“We are expanding our services with numerous major projects and driving forward the mobility revolution," said Robert Heinrich, CEO of Hochbahn. These include digital platforms, new, comfortable underground trains, new lines and stops, more frequent services, larger, quieter and zero-emission buses and on-demand shuttles. In addition to the extension of the U4 line, fully automated DT6 generation double cars will run on the new U5 line. Underground trains will run at 100-second intervals and passengers will be able to see the location of buses live on an app. The entire bus fleet will be emission-free by 2032. Further investments will go towards the construction of new bus depots, the electrification of existing bus depots and new workshops. "These investments mean we are laying the foundation for high-quality and good public transport and are creating a Hochbahn for all residents of Hamburg," said Anjes Tjarks, Senator for Transport and Chair of the Hochbahn Supervisory Board.

Testing key technology for public transport

Hochbahn is also advancing forward-looking development projects. It is involved in e.g., the ALIKE pilot project to put 10,000 driverless shuttles on roads all over Hamburg by 2030. The German Ministry for Digital Affairs and Transport has earmarked EUR 26 million in funds for the service which will complement public transport. And tests of driverless shuttles, which can be booked on an app, began in early 2024. On top of that, Hochbahn has raised EUR 950 million on the green capital market since 2021 and also placed bonds totalling EUR 150 million this year. The company also won the best possible "Dark Green" rating, for the third consecutive year, which is a prerequisite for access to the green capital market. 

Sources and further information

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