New Flyer Xcelsior® XE40 Battery-Electric Bus Enters Transit Service With The Chicago Transit Authority
Winnipeg, Manitoba, Canada – October 30, 2014: (TSX: NFI) (TSX: NFI.DB.U) New Flyer Industries Inc. (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced today that the Xcelsior® XE40 battery-electric heavy-duty transit bus has entered into regular transit service with the Chicago Transit Authority (“CTA’).
CTA’s two (2) battery-electric buses were delivered earlier this year as part of a contract awarded to New Flyer in June 2012. CTA will operate these battery-electric buses on six routes throughout Chicago, offering their passengers a cleaner, quieter ride and enjoying fuel and maintenance savings.
While CTA’s electric buses are the first New Flyer XE40 heavy-duty transit buses to enter into regular transit service, an earlier prototype bus has undergone all-weather service testing in Winnipeg, Canada and has been operating in shuttle service since March 2014.
The CTA battery-electric buses are equipped with 300 kwh of energy storage providing a range of up to 120 miles on a single charge. The buses feature a Siemens electric drive system, as well as electric subsystems and accessories currently used on New Flyer’s Xcelsior XDE40 diesel-electric hybrid bus.
“We’re extremely excited and proud that CTA has joined us on our zero-emission technology journey,” said Paul Soubry, New Flyer President and Chief Executive Officer. “We took a very calculated approach when we decided to enter into battery-electric bus technology, knowing how important reliability and up-time is to our customers. The XE40 builds on our proven Xcelsior bus and introduces electric propulsion technology that has been successfully demonstrated in other areas of the transportation industry.”
As with all New Flyer buses, the XE40 is delivered with New Flyer’s commitment to lifetime customer care, which includes a comprehensive product warranty, maintenance and operations training, spare parts and an extensive network of in-service support professionals.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line of transit buses including drive systems powered by: clean diesel, natural gas, diesel-electric hybrid, electric trolley and now, battery-electric. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer also operates the industry’s most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of transit buses.
The New Flyer group of companies employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Over 32,000 New Flyer and NABI heavy-duty transit buses are in operation today. Further information is available on New Flyer’s web site at www.www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of the Company are traded on the Toronto Stock Exchange under the symbols NFI and NFI.DB.U, respectively.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Company 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, there may be no demand for a battery-electric bus from customers, customers may not exercise options to purchase additional buses, the ability of customers to 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 Company 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.
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