In Quebec, for more than 60 years, Autobus Laval ltée confirmed on Monday that it had sold its business to Autobus Transco (1988) inc.
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Transco is a subsidiary of First Student, which does school transportation and bus electrification.
Autobus Laval ltée confirmed the transaction in an internal memo sent to employees. All jobs are maintained.
Transco has been established in Quebec since 1983.
“This is the best decision to ensure the continuity and sustainability of the company,” wrote Louise Giroux, President and Chief Executive Officer.
Autobus Laval Ltée has been a carrier in the Quebec region since 1961.
In addition, Quebec granted $18 million last year to Autobus Transco for its project to purchase 120 electric school buses from Lion Electric.
Funding
Lion Electric, of Saint-Jérôme, a specialist in the manufacture of fully electric vehicles, also announced an agreement with Mitsubishi HC Capital Canada to provide financing to customers who wish to purchase school buses and electric trucks.
The electrification of school transport could therefore take another step.
“As the world is looking for more sustainable solutions, electric transportation is becoming a significant necessity,” said François Nantel, President of Mitsubishi HC Capital Canada.
LionCapital’s financing solutions will be able to cover up to 100% of bus fleet electrification costs, including the initial cost of the vehicle, charging infrastructure and its installation.
Lion Electric is a manufacturer of zero-emission vehicles, such as class 5 to 8 urban commercial trucks, buses and electric minibuses for school, adapted and collective transportation.
Lion Electric designs, manufactures and assembles several parts of its vehicles.