Ontario Commits $758 Million for 55 New Line 2 Subway Trains in Historic Transit Deal
Toronto, ON — The Ontario government has announced a $758 million investment to support the purchase of 55 new subway trains for Toronto’s aging Line 2, a critical upgrade for one of the city’s busiest transit lines. The funding is part of the New Deal for Toronto, a landmark agreement between the province and the city to bolster Toronto’s financial stability and infrastructure. The announcement follows confirmation of matching federal funding for the project.
“It’s nearly 12 months to the day that the Government of Ontario reached a historic deal with the City of Toronto to help ensure the city’s long-term financial stability,” said Prabmeet Sarkaria, Ontario’s Minister of Transportation.
Line 2’s current fleet of trains, now three decades old, is nearing the end of its lifespan. Continuing their operation would require costly maintenance to ensure safety standards are met. The 55 new trains will improve reliability for TTC riders while preparing the line to handle future demand.
🚇 Big news for transit riders!
Today, alongside Minister @PBethlenfalvy and members from all 3 levels of government, I was thrilled to celebrate a $758M investment from the province to purchase 55 new trains for the TTC’s Line 2—part of a $1.2B commitment to modernize Toronto’s… pic.twitter.com/zhMIjCpTUV
— Prabmeet Sarkaria (@PrabSarkaria) November 29, 2024
The New Deal, reached in November 2023, included a commitment from Ontario to fund more than $750 million for new subway trains, contingent on the federal government providing equal support. The federal commitment, announced today, unlocks Ontario’s promised investment.
“Ontario is working with all levels of government to continue delivering solutions that help us build reliable transit and fight gridlock,” said Peter Bethlenfalvy, Minister of Finance. “This major new transit investment will ensure the continued growth of Ontario’s economy while directly impacting the lives of workers and families.”
The announcement also drew praise from Toronto Mayor Olivia Chow, who has championed collaboration among municipal, provincial, and federal governments to address the city’s transit needs.
“This is an excellent day for TTC riders and the result of months of negotiations across all governments,” said Chow. “The New Deal with the province and today’s announcement of federal funding unlocks a key commitment from Ontario to get 55 new subway cars ordered and prepare Line 2 to welcome future riders.”
The New Deal for Toronto includes up to $1.2 billion in provincial transit support, featuring $330 million over three years in operating funding for the Eglinton Crosstown LRT and Finch West LRT, and $300 million in one-time funding for subway safety, recovery, and sustainability.
With all three levels of government now aligned, this investment in new subway trains marks a significant step toward modernizing Toronto’s transit system and ensuring it can meet the needs of a growing population.
