Shore Trips and Tours managing director Ian Holroyd said he and his company had a desire to lead sustainability in the sector.
"This is a milestone moment for the industry and we take pride in leading the way for environmental sustainability in tour operations," Holroyd said.
"I'm confident others will follow suit, we aren't unique in our business offering, but someone needs to be the first in taking the next step. So why not us?"
The coach will become operational early next year. The six on-board battery packs will offer a driving range of 170km to 190km.
Toi Ohomai head of facilities Malcolm Hardy said the Tauranga and Rotorua campuses would each have one slow charger to use overnight and one fast charger for top-ups between day-time trips.
Both would be available for public use.
The institute initially applied for EECA funding three years ago but missed out.
"So we went back and asked why, and we were steered to look at travel between campuses," Hardy said.
Its fleet already includes one electric vehicle that is also used for teaching automotive and electrical students.
Toi Ohomai currently uses 11 diesel and petrol fleet vans at the Windermere campus and up to five at the Mokoia campus.
"We might apply for the next round because we've got campuses in Whakatāne and Tokoroa and Taupō ... We could put charging stations in other areas," Hardy said.
Minister Woods said the Low Emission Vehicles Contestable Fund was one of "several initiatives in the Government's Electric Vehicles Programme, which aimed to double the number of EVs every year to reach 64,000 by the end of 2021".
