UK-based fleet and battery specialist Zenobē has signed a framework agreement with Spanish transport operator Vectalia that could be worth up to €120 million, as the two companies seek to accelerate the deployment of electric buses and supporting infrastructure across Spain.
The three-year agreement covers the financing and leasing of battery-electric buses, along with charging infrastructure, depot electrification and energy management services. The companies said the arrangement is designed to support Vectalia’s transition toward lower-emission public transport operations.
According to Zenobē, the transaction represents the largest electric bus leasing structure the company has arranged in Spain and Europe to date.
Comprehensive Electrification Package
The agreement includes an operating lease model for battery-electric buses as well as the design, installation, operation and maintenance of charging infrastructure.
Additional services will cover depot electrification, energy management and load optimization, areas that are becoming increasingly important as transport operators transition larger fleets to electric power.
The companies did not disclose how many vehicles will be deployed under the agreement, which manufacturers will supply the buses, or where the projects will be located.
Battery Management Services Included
Alongside the leasing framework, Zenobē and Vectalia have signed a separate battery management agreement.
Under the arrangement, Zenobē will assume certain battery-related risks and provide monitoring services focused on battery health, performance and degradation.
The company said the service is intended to help reduce operational uncertainty associated with fleet electrification and battery lifecycle management.
“The combination of this long-term structure and specialised technical support enables Vectalia to move more quickly toward the electrification of its fleet and the achievement of its sustainability goals, offering its users cleaner, more efficient and emission-free transportation,” said Martín Navarro, Zenobē’s director for Iberia.
Expansion of European Fleet Electrification Activities
The agreement follows Zenobē’s efforts to expand its electric Fleet-as-a-Service business across Europe.
In 2025, the company secured a €325 million credit facility intended to support the deployment of up to 1,000 battery-electric buses, electric trucks and charging systems across European Union and European Economic Area markets.
Zenobē is already active in Spain through a separate project with Grupo Julià in Barcelona. That initiative includes financing for 44 battery-electric buses as well as charging infrastructure development and maintenance services.
Supporting Sustainable Public Transport
Vectalia operates urban, intercity and charter transport services across several regions of Spain and also maintains transport operations in Morocco.
According to Zenobē, Alicante currently has 23 battery-electric buses in operation, with additional electrified vehicles planned in the coming years.
“This agreement reinforces Vectalia’s commitment to sustainable mobility and to our users,” said Antonio Agudo, chief financial officer of Vectalia.
“Thanks to this framework leasing agreement, we will be able to accelerate the electrification of our fleets and depots, directly contributing to the reduction of emissions and moving toward more efficient, innovative and environmentally friendly public transportation.”
The agreement reflects growing investment in fleet electrification across Europe as public transport operators seek to reduce emissions and comply with increasingly stringent environmental targets.