Despite rapid advances in urban transit electrification, the progress of systematic planning and management of the electric bus (EB) fleet is falling behind. In this research, the fundamental issues affecting the nascent EB system are first reviewed, including charging  station  deployment, battery sizing, bus scheduling, and life-cycle analysis. At present, EB systems are planned and operated in a sequential manner, with bus scheduling occurring after the bus fleet and infrastructure have been deployed, resulting in low resource utilization or waste. We  propose a mixed-integer programming model to consolidate charging station deployment and bus fleet management with the lowest possible life-cycle costs (LCCs), consisting of ownership, operation, maintenance, and emissions expenses, thereby narrowing the gap between optimal
planning and operations. A tailored branch-and-price approach is further introduced to reduce the computational effort required for finding optimal solutions. Analytical results of a real-world case show that, compared with the current bus operational strategies and charging station layout, the LCC of one bus line can be decreased significantly by 30.4%. The proposed research not only performs life-cycle analysis but also provides transport authorities and operators with reliable charger deployment and bus schedules for single- and multi-line services, both of which are critical requirements for decision support in future transit systems with high electrification penetration, helping to accelerate the transition to sustainable mobility.