Public transport operator EMT Valencia has secured a €69 million loan from the European Investment Bank (EIB) to purchase 145 electric buses and the necessary infrastructure, as part of its plan to modernize the city’s fleet.
The new buses will replace older vehicles that are nearing the end of their useful life. The loan also covers investments in infrastructure, including the installation of new fire safety systems, IT systems, and additional parking spaces for existing garages.
EMT Valencia’s long-term strategy involves expanding its electric bus fleet to 527 vehicles by 2028, with an additional €172 million investment plan. This plan aims to purchase 215 more electric and hybrid buses and adapt the company’s facilities to accommodate the growing fleet.
Jesús Carbonell, President of EMT and Councillor for Mobility, emphasized the urgency of the transition. “We are acting without delay, because we have a very clear line of action. We want the best EMT, the most advanced and sustainable. Last week the loans were authorised and today we begin the path towards a new municipal transport company,” Carbonell stated.
He also highlighted the increase in investment under the current municipal government, noting, “Between 2016 and 2023, the previous municipal government invested 130 million euros, i.e. 40 million less, in almost twice the time. The investment of the previous managers of the municipal company was 16.3 million each year, while now it will be 34.3 million annually. The increase in investment is 111% with the current municipal government.”
The EIB has been actively supporting green transport initiatives, having previously funded technology development projects in Germany and boosted Volvo’s operations in Europe. Earlier in 2024, Schaeffler also received a substantial loan from the bank.
