"It will deliver better bus services to local communities across the country and will help support British manufacturing jobs. It is also great news for our customers, who continue to benefit from the best value fares of any major bus operator in the UK.
"We are continuing to see consumers switch to smarter, better value bus travel as motorists feel the effect of high fuel prices and the increasing cost of running a car. These new buses will also be better for the environment and continue our market-leading investment in greener technology.
"The new orders will also see further investment in our budget coach service megabus.com, which now carries more than five million passengers a year in the UK alone.
"We have placed a special order for new double-decker sleeper coaches, which will allow us to run a luxury service during the day and offer greater comfort to our customers on overnight services."
Scotland's Transport Minister Keith Brown said: "This investment by Stagecoach is fantastic news, not only for bus users in Scotland, but particularly given that such a huge part of the investment will be spent right here on Scottish jobs and industry."