Zenobe charging

We’ve invested $20m to help a leading international electric vehicle fleet and battery storage specialist to electrify New Zealand’s bus fleet.

UK-headquartered Zenobē offers end-to-end bus fleet electrification solutions, from planning and power procurement, to vehicles, charging infrastructure and award-winning software.

New Zealand’s public transport bus fleet currently produces an estimated 155,000 tonnes of CO2-e per annum and the government has a target to decarbonise the public bus fleet by 2035. It is estimated that fewer than 5% of the 2,600 public buses in operation in New Zealand are electric.

NZGIF is providing a $20 million finance facility to support Zenobē with the deployment of electric bus fleets under long-term lease agreements with major operators in New Zealand.

A further $30 million is being held in reserve to support additional uptake, which sends a strong signal to the public transport sector that commercial, zero emission solutions will be more accessible.

The deal is designed to smooth the transition from combustion engine to e-Buses for operators, removing technological and financing risk through competitive pricing.

“This deal brings Zenobē’s expertise in fleet electrification and putting together bespoke funding structures to New Zealand. The flexible rental contracts enable operators to take the time to understand the operational changes required as they transition to battery electric vehicles. This allows them to adapt and/or grow, minimising the usual level of risk.”

Craig Weise, New Zealand Green Investment Finance Chief Executive


Easier transition

Zenobē reduces risk for operators with its strong track record of providing end-to-end electrification solutions including operational support and ongoing maintenance, making the transition to e-buses easier.

Significant emissions reductions

NZGIF’s finance package has the capacity to electrify approximately 40 buses, representing emissions reductions of 2,380 tonnes of CO2-e over the life of the investment.

Future reduction opportunities

Transport makes up 21% of New Zealand’s annual greenhouse gas emissions but only 5% of the national bus fleet is electric.