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York Region’s electric bus fleet will help city reach climate goals
Fast facts
Our $136 million investment towards up to 180 zero emission buses (ZEBs) will help York Region reduce greenhouse gas emissions through cleaner public transportation.
Our loan will help cover the higher upfront capital costs of ZEBs helping to accelerate the electrification of York Region’s bus fleet by 2027. We will be repaid from expected reduced fuel and maintenance costs over the life of the ZEBs compared to diesel buses.
Currently, diesel buses are significant greenhouse gas contributors across Canada and accounted for over half of the Region’s current annual corporate emissions. Converting from diesel-powered vehicles to electric is a key component of the Region’s Vision 2051 and the Energy Conservation and Demand Management Plan focused on mitigating climate change and reducing greenhouse gas emissions.
Benefits of CIB’s Involvement
Our Zero-Emission Buses Initiative assists transit agencies and school boards in transitioning their fleets to modern, environmentally friendly vehicles. The financing, in the form of direct loans, can cover a portion of the higher upfront capital cost of ZEBs compared to diesel buses. We enable our partners to modernize their bus fleets on an accelerated basis by taking advantage of our flexible financing options.
Learn more
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