Australia’s SkyBus owner and operator, Kinetic, is planning a rapid expansion of its global electric bus fleet as it beds down a $4 billion-plus deal with private equity firm TPG and takes over running Stockholm’s metro train service.

After starting the SkyBus service to Tullamarine Airport in 2015 with 50 vehicles, Melbourne-based Kinetic now runs a global fleet of buses and trains that has attracted TPG Capital to get behind the wheel of a 70 per cent stake valuing the company at more than $4 billion.

The SkyBus terminal at Southern Cross Station in Melbourne. Credit: Luis Ascui

TPG bought its majority holding through its Rise Climate Fund, one of the world’s largest private markets climate platforms specialising in investing in electrification and green mobility.

In the UK, Kine

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