Jolt has announced a $214 million (CAN 194 million) loan agreement with the Canada Infrastructure Bank (CIB) to support the rapid expansion of its electric vehicle (EV) charging network across Canada. The company plans to build a network spanning at least 6,500 locations nationwide.
The loan will fund the installation of up to 1,500 new kerbside EV chargers in Canadian cities. Each charger will provide up to 7 kWh of free fast-charging daily per user, equivalent to approximately 50 kilometers of driving range and 15 to 20 minutes of charge time, depending on the vehicle.
This deal follows Jolt’s collaboration with Telus, a Canadian communications technology company, to install up to 5,000 streetside fast chargers across the country.
Jolt’s CEO Doug McNamee called the CIB partnership a “vote of confidence” in the company’s 100% renewable energy-powered technology. He added that providing fast, free charging at kerbside locations is vital for expanding EV infrastructure and supporting the shift to electric vehicles.
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