Sweden's Volvo Buses began trial services for its first full-sized driverless electric bus in Singapore on Tuesday, in what its president has dubbed "the world's first." Speaking to CNBC's "Squawk Box," Hakan Agnevall, the president of Volvo Buses, said the vehicle is the "first full-sized, autonomous electric bus in the world." The 12-meter long Volvo 7900 electric bus is jointly developed by the Swedish automobile firm, together with Singapore's Nanyang Technological University (NTU), whose researchers will oversee the artificial intelligence developments of the vehicle. "We really think that autonomous (vehicles) can really transform public transport," Agnevall told CNBC on Tuesday. The zero-emissions vehicle will require 80 percent less energy than its diesel powered counterparts.