05.22.15

Press Releases

California Purchase Incentives Now Available For New Flyer Xcelsior® Zero Emissions Electric Buses

Winnipeg, Manitoba, Canada – May 22, 2015: (TSX: NFI) (TSX: NFI.DB.U) New Flyer of America Inc., a subsidiary of 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® XE35 and XE40 battery electric buses are now eligible for the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).

The HVIP program was created by the California Air Resources Board to speed the early market introduction of clean, low-carbon hybrid and electric vehicles and is administered and implemented through a partnership with CALSTART. CALSTART is a member-supported organization of more than 140 firms, fleets and agencies worldwide dedicated to supporting a growing high-tech, clean transportation industry that cleans the air, creates jobs, cuts imported oil and reduces global warming emissions.

The base HVIP voucher amount is $95,000 per bus. Additional rebate incentives are available for bus fleets operating in disadvantaged communities ($15,000), purchase of rapid chargers ($20,000), extended warranties ($2,000) and an additional $10,000 per bus applied to the first three purchases of electric buses.

With more than 5,000 Xcelsior buses delivered or on order, New Flyer has demonstrated industry leading design and reliability that provides passengers and drivers with safe, quiet and dependable public transportation. New Flyer is the only transit bus manufacturer in North America today that can offer propulsion systems ranging from: clean diesel, hybrid-electric, electric-trolley, natural gas, fuel cell and now battery-electric all on the same bus platform.

The Xcelsior XE35 and XE40 battery-electric buses feature:

  • A New Flyer integrated energy storage system ranging from an approximate 100 to 300 kWh of on-board power
  • A Siemens electric drive system
  • The ability to receive a partial recharge using a regenerative braking system, which is ideally suited for the typical start-and-stop duty cycle of a transit bus
  • Proven electric subsystems and accessories currently available on the Xcelsior® hybrids
  • Depot charging capability and en-route rapid charging capability
  • With the absence of a traditional engine, customers will notice a significantly quieter ride
  • Zero-Emissions, and a savings of approximately 100 to 160 tons of greenhouse gas per year

To ensure consistent and dependable support of industry-leading transit buses in California, New Flyer operates an aftermarket parts facility in Fresno, CA and a completion and service facility in Ontario, CA.

For additional information on the California HVIP rebate program, information can be found at https://www.californiahvip.org. For additional information on Xcelsior® Electric Buses and HVIP program in California, please contact Mark Fisher, Regional Sales Manager at mark_fisher@newflyer.com.

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 and drive systems. 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 3,300 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 website at http://www.www.newflyer.com/content

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.

Forward-Looking Statements

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, there may be no sustained customer demand for this type of battery-electric bus, the expected benefits for customers operating this type of bus may not be realized, the economic conditions of and funding availability for customers to purchase buses and to purchase parts or services 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.”

For further information on New Flyer, please contact:

Jon Koffman
Investor Relations
Tel: 204-224-6672