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Canadian bus operators can now lease electric buses rather than buying them upfront, a choice which investors hope will encourage Canadian cities to adopt battery-powered electric vehicles more quickly.
Canadian transit authorities, such as TransLink and BC Transit, have been slow to adopt electric buses which can cost up to $1 million and require new infrastructure and training for drivers.
California investment company Generate Capital believes that by expanding its new leasing program to Canada, it can overcome “inertia in the market,” by allowing customers to make the switch from diesel to electric fleets without shelling out millions of dollars upfront.
‘Fear of the unknown’ slows
This story was originally published on CBC News. To read the rest of this news worthy story, please visit https://www.cbc.ca/news/canada/british-columbia/new-venture-to-bring-more-electric-buses-to-canada-1.4751061?cmp=rss.