California Air Resources Board

Project Goals

The goal of the pilot is to provide financing opportunities for small-sized business fleets in making a successful transition to zero-emission technology and for CARB, lenders, and California Pollution Control Financing Authority (CPCFA) to learn the needs of fleets. 

Guiding Legislation/Policy Drivers 

SB 372 was approved by the Governor in fall 2021. The bill directs CARB to develop and administer the Medium- and Heavy-Duty Zero-Emission Vehicle Fleet Purchasing Assistance Program with the CPCFA, to make financing tools and non-financial supports available to the operators of medium- and heavy-duty vehicle fleets to fully enable the transition of their fleets to ZEVs. A combination of financial and non-financial tools is needed to support the many different sizes and sectors of fleets that need to transition to zero-emission. The Zero-Emission Truck Loan Pilot Project fits within the larger goals of this bill. 

Project Funding/Allocations/History 

An initial funding allocation of $5 million in the FY 2022-2023 funding cycle was provided for the new Zero-Emission Truck Loan Pilot Project.

Project/Policy Changes  

Anticipated early 2024 launch date.