World News | German Railway Orders 30 High-speed Trains for $1.1 Billion
Get latest articles and stories on World at LatestLY. Germany's national railway operator is ordering 30 new high-speed trains from industrial conglomerate Siemens for some 1 billion euros ($1.1 billion).
Berlin, Jul 15 (AP) Germany's national railway operator is ordering 30 new high-speed trains from industrial conglomerate Siemens for some 1 billion euros ($1.1 billion).
State-owned Deutsche Bahn said Wednesday that the new ICE trains will go into service from 2022, initially between the populous western North Rhine-Westphalia region and Munich.
The company said the order means that its long-distance fleet will expand by 20% in the coming years.
It also has an option to buy 60 more high-speed trains.
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“Even though demand declined strongly because of the coronavirus pandemic, in the longer term everything speaks for climate-friendly railways,” Deutsche Bahn CEO Richard Lutz said in a statement. “So we are staying on a course of growth and investment.”
Deutsche Bahn cut long-distance ticket prices at the beginning of this year when the German government reduced value-added tax on train tickets as part of a package of measures aimed at combating climate change.
The government cut all VAT rates on July 1 for six months as part of a stimulus package to boost the economy after the coronavirus shutdown, which resulted in another reduction in ticket prices.(AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)