Press Releases

MBTA exercises option for 45 additional 60 foot Xcelsior low-emission hybrid transit buses with advanced electric propulsion from BAE Systems

St. Cloud, Minnesota, USA – January 26, 2021: (TSX: NFI) New Flyer of America Inc. (“New Flyer”), a subsidiary of NFI Group Inc. (“NFI”), one of the world’s leading independent global bus manufacturers, today announced that the Massachusetts Bay Transportation Authority (“MBTA”) has exercised an option with New Flyer to purchase 45 additional Xcelsior® sixty-foot hybrid electric buses (90 equivalent units or “EUs”).

MBTA is one of the largest transit systems in the U.S., providing public transportation services in Greater Boston and carrying approximately 32 million passengers per year.

This order follows recent MBTA awards to New Flyer for low and zero-emission buses, including a 2020 contract for 60 Xcelsior forty-foot hybrid electric buses, a 2019 contract for 194 Xcelsior forty-foot hybrid electric buses, and a 2019 contract for five sixty-foot battery-electric Xcelsior CHARGE™ zero-emission buses. The purchases are supported by a combination of state and federal funding from the Federal Transit Administration (“FTA”) grants, executing on MBTA’s planned fleet replacement, expansion and greenhouse gas (“GHG”) reductions.

“Our partnership with MBTA spans 45 years, having delivered more than 1,500 buses, of which over 500 incorporate hybrid technology,” said Chris Stoddart, President, New Flyer of America. “As we continually innovate our products to become more sustainable, we continue to see early adopters like MBTA to introduce the latest technology. Advanced hybrid-electric buses like this will result in immediate GHG reduction and are a critical transition step in the evolution to zero-emission mobility.”

New Flyer partnered with BAE Systems, a global leader in electric propulsion, to equip the buses with a Series-ER hybrid system configured with the lightest and most compact next-generation components that enhance system efficiency and reduce fuel emissions.  In addition to the Series-ER hybrid system, the low-emission hybrid buses feature onboard energy storage and smart controls supplied by BAE Systems that will extend electric drive range and help modernize MBTA’s fleet. The Series-ER system is powered by lithium-ion technology that allows buses to drive on strictly electric power up to 50 percent of the time.

New Flyer has been leading innovation in mobility for 90 years, and today supports growing North American cities with sustainable buses, technology, and infrastructure. It also operates the Vehicle Innovation Center, the first and only innovation lab of its kind dedicated to advancing bus and motor coach technology and providing essential workforce development through electric bus training, now available online. New Flyer is testing automated vehicle technology and remains committed to the development of technology standards that deliver safe, clean, sustainable, connected mobility options to communities.

About NFI

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.

With 8,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 105,000 buses and coaches around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information is available at www.nfigroup.com, www.www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts.

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. It also offers infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at www.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.

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