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Roslyn No 95 is expected in Dunedin early next month.
The cable car was rebuilt by volunteers at the Tramway Historical Society at Ferrymead, Christchurch, and will be the third to grace the Dunedin Heritage Light Rail Trust's new shed in Mornington Park.
Trust spokesman Neville Jemmett said it was the last of three cars to be brought to the Mornington building.
The cable car ran on the Roslyn route between Rattray St and Ross St, terminating at Kaikorai Valley Rd.
Mr Jemmett said another ex-Roslyn cable car, No 97, was already at the Mornington tram shed.
The idea was to show sister cars 95 and 97 together, so people could see restored and unrestored examples.
Work on rebuilding former Mornington cable car No 103 was also under way at the society in Christchurch.
Mr Jemmett said that cable car would also return to Mornington, but not until the next stage of the project.
The trust is trying to raise $23 million to build a tram building and get the cars running again on High St.