June 21, 2018 - 5:46 PM EDT
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Toronto Transit Commission orders up to 40 battery-electric buses from New Flyer

Canada NewsWire

WINNIPEG, June 21, 2018 /CNW/ - (TSX: NFI) New Flyer Industries Canada ULC ("New Flyer"), the Canadian subsidiary of NFI Group Inc., ("NFI"), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced an award from the Toronto Transit Commission ("TTC") for ten forty-foot, zero-emission battery-electric Xcelsior CHARGE™ heavy-duty transit buses, with an option to purchase up to 30 additional buses over the next two years. This is TTC's first transit bus order from New Flyer since 1999.

NFI Group Inc. (CNW Group/NFI Group Inc.)

This award supports TTC's electric bus program, focused on transforming its fleet into a 100% zero-emission fleet by 2040 and buying only emission-free buses starting in 2025. New Flyer was one of three candidates invited to collaborate with TTC in the evaluation of battery-electric buses for TTC service, offering buses with long range and overnight charge capability. The collaboration will assist TTC and the greater public transportation community with the development of bus specifications and the integration of future electric-bus procurements.

The Xcelsior CHARGE™ award is supported by funding from Infrastructure Canada's Public Transit Infrastructure Fund (PTIF), which provides funding for new capital projects and planning and studies for transit growth in support of long-term transit plans. TTC's electric bus program is also funded in part through the Government of Ontario's GHG Challenge Fund. Depot charging for the buses will be powered by Toronto Hydro, TTC's electricity provider.

"New Flyer is proud to provide battery-electric, zero-emission buses to the Toronto community, and is committed to leading the collaboration and advancement of Smart Mobility throughout North America," said Jennifer McNeill, Vice President, Sales and Marketing, New Flyer. "We look forward to working with TTC as it paves the way for zero-emission transportation in Canada, while improving mobility for the GTA and preserving its surrounding environment."

The TTC is the third largest transit system in North America, delivering more than 536 million trips per year with subways, streetcars, buses, and a specialized service, Wheel-Trans, for persons with disabilities whose disability prevents them from using conventional transit. TTC operates more than 140 bus routes, and embeds sustainability into the core strategic objectives of its Five-Year Corporate Plan by reducing greenhouse gases, air pollution, and congestion on Toronto roadways.

NFI has over 85 years of experience manufacturing buses in Canada, and is focused on advancing vehicle innovation through development of intellectual property and removal of barriers to adopting zero-emission vehicles and autonomous driving technologies. New Flyer has been building electric-trolley buses since 1969 and battery-electric buses since 2013.

About NFI Group

With nearly 6,000 team members, operating from 32 facilities across Canada and the United States, NFI Group Inc. is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under several brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts™ (parts, support, and service). NFI Group's buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell).  For the fiscal year ended December 31, 2017, NFI Group posted revenues of US $2.4 billion.

NFI Group Inc. common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.

About New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE™ brands. New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.newflyer.com

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to suspend or terminate contracts for convenience and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, the NFI Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.      

SOURCE NFI Group Inc.

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Lindy Norris, P: 204.792.8424Copyright CNW Group 2018


Source: Canada Newswire (June 21, 2018 - 5:46 PM EDT)

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