Canada Infrastructure Bank loaning Australian EV charging company Jolt $194M

The Canada Infrastructure Bank has signed a deal to loan $194 million to Australian electric vehicle charging company Jolt, to help it grow its network in Canadian cities.

They say the loan will help with the installation of up to 1,500 new curbside EV chargers.

Jolt’s EV charging stations station provide up to seven kilowatt-hours of free, fast charging per car per day.

CIB CEO Ehren Cory says by investing in expanding EV charging infrastructure, it is supporting Canadians’ need for accessible and convenient charging points in urban centres.

CIB says this is its third investment in EV charging infrastructure.

To date, CIB says it has invested a total of about $650 million toward the deployment of about 5,500 public fast charging ports.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.