CIB Announces Partnership with JOLT to Expand its EV Charging Network
February 24, 2025
The Canada Infrastructure Bank (CIB) and JOLT have announced a $194 million loan agreement to enable the expansion of JOLT’s electric vehicle (EV) charging network across Canada. The CIB investment will facilitate the installation of up to 1,500 new curbside EV chargers in urban centres, ensuring Canadians have access to convenient charging options.
JOLT’s EV charging stations combine innovative technology with affordable, fast charging for a reliable user experience. Each station provides up to 7 kWh of free, fast charging per car per day, equivalent to approximately 50 kilometres of driving range.
The CIB and JOLT’s partnership supports the goal of increasing the quantity and availability of electric vehicle charging options which will make EV ownership more accessible.
By providing loans for the build-out of EV charging infrastructure, the CIB aims to alleviate consumer range anxiety, accelerate EV adoption and significantly reduce transportation sector emissions.
Through the Charging and Hydrogen Refuelling Infrastructure Initiative (CHRI), the CIB collaborates with leading EV charging network owners and operators to accelerate the private sector’s rollout of large-scale charging infrastructure across Canada. This project marks the CIB’s fourth CHRI investment and its third in EV charging infrastructure.
To date, the CIB has invested approximately $650 million towards the deployment of approximately 5,500 public fast charging ports.
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