TriMet Awards New Flyer a Contract for Five Battery-Electric Xcelsior Transit Buses

It is TriMet’s first move in deploying a long-term test of battery-electric buses within their network, in consideration of transition to an all-electric fleet, and also delivers on goals of advancing bus technology and planning for the future of transit. TriMet has partnered with Portland General Electric (PGE) to purchase, own, and maintain the charging infrastructure.

The contract, which includes the Xcelsior battery-electric buses and charging hardware, is supported by a grant from the Federal Transit Administration (FTA) Low or No (Low-No) Emission Vehicle Deployment Program. Xcelsior battery-electric buses offer up to USD $400,000 in energy savings and up to USD $125,000 in maintenance savings over a twelve year life span, and can travel up to 230 miles on a single charge¹.

“We are thrilled to be part of TriMet’s first investment in 100% electric, zero-emission transportation,” stated Wayne Joseph, President of New Flyer of America. “With this Low-No contract, we take another step in the evolution of America’s transit bus fleets to electric propulsion. We commend TriMet on leading change toward lower emissions and greater environmental sustainability.”

TriMet provides bus, light rail, and commuter rail service in the Portland, Oregon region supporting 1.5 million residents who take over 100 million trips each year.

The Company has over 50 years of experience in manufacturing zero-emission buses (ZEBs), and employs more American workers than any other bus manufacturer in the industry.

About The Company

The Company is the largest transit bus and motor coach manufacturer and parts distributor in North America, with 31 fabrication, manufacturing, distribution, and service centers across Canada and the U.S. employing over 5,600 team members.

The Company is North America’s heavy-duty transit bus leader and offers the largest transit bus product line under the brand Xcelsior^®, incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, trolley-electric, and battery-electric. New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 6,400 are powered by electric and battery propulsion.

The Company is also North America’s motor coach market leader offering the Motor Coach Industries Inc. (MCI) J-Series, the industry’s best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry’s best-selling motor coach line in North American history. MCI is also the exclusive distributor of Daimler’s Setra S 417 and S 407 motor coaches in the United States and Canada. MCI actively supports over 28,000 coaches currently in service.

The Company operates North America’s most comprehensive parts organization, NFI Parts™, providing parts, technical publications, training, and support for its OEM product lines (transit buses and motor coaches). All buses and coaches are also supported by an industry-leading comprehensive warranty, service, and support network.

Further information is available on the Company’s websites at www.www.newflyer.com and www.mcicoach.com. The common shares of the Company are traded on the Toronto Stock Exchange under the symbol NFI.

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 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 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, please contact:

Jon Koffman

Investor Relations

Ph: 320-316-4964

 

¹ 230 miles with a 480 kWh charge, range per FTA Altoona Test Protocol