Autobus Laval ltée, which has operated in Quebec for more than 60 years, 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 active in school transportation and bus electrification.
Autobus Laval Ltée confirmed the transaction in an internal memo sent to employees. All jobs will be retained.
Transco has been based in Quebec since 1983.
“This is the best decision to ensure the continuity and sustainability of the business,” wrote Louise Giroux, President and Chief Executive Officer.
Autobus Laval Ltée has been a transport company in the Quebec region since 1961.
In addition, last year Quebec Autobus granted Transco $18 million for its project to purchase 120 electric school buses from Lion Electric.
financing
Saint-Jérôme-based Lion Electric Company, a specialist in manufacturing all-electric vehicles, also announced an agreement with Mitsubishi HC Capital Canada to provide financing to customers looking to purchase school buses and electric trucks.
The electrification of school transport could therefore take a further step.
“As the world looks to more sustainable solutions, electric transportation is becoming a significant necessity,” said François Nantel, President of Mitsubishi HC Capital Canada.
LionCapital financing solutions can cover up to 100% of fleet electrification costs, including vehicle acquisition costs, charging infrastructure and its installation.
Lion Electric is a manufacturer of zero-emission vehicles such as B. Class 5 to 8 urban utility vehicles, fully electric buses and minibuses for school, adapted and collective transport.
Lion designs, manufactures and assembles several parts of its vehicles.