New Flyer announces order from Ottawa’s OC Transpo for 51 zero-emission Xcelsior CHARGE NG™ heavy-duty transit buses

Winnipeg, Manitoba, Canada – October 31, 2024: (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) New Flyer Industries Canada ULC (New Flyer), a subsidiary of NFI Group Inc. (NFI) and a leader in zero-emission electric mobility solutions, today announced two new firm orders for a total of 51 Xcelsior CHARGE NG^™ battery-electric 40-foot transit buses from OC Transpo in Ottawa. This purchase was contracted via the Toronto Transit Commission contract awarded to New Flyer in 2023 which allows for local Ontario agencies to piggyback purchases. The order is supported by funds invested by a loan from the Canada Infrastructure Bank and a grant from Housing, Infrastructure and Communities Canada (HICC). The units were added to New Flyer’s firm backlog in Q4 2023.

OC Transpo’s bus and O-Train network spans 480 square kmacross Ottawa, Ontario and into Gatineau, Quebec. OC Transpo aims to reach a zero-emission fleet by 2036, and this procurement aligns with other zero-emission bus (ZEB) transition initiatives currently underway for the agency, including garage and infrastructure updates to support the operation of the new ZEB fleet.

“This important order follows the completion of a successful pilot project at OC Transpo that began in 2021 and included the launch of four Xcelsior CHARGE^® buses into revenue service,” said Chris Stoddart, President, North American Bus and Coach, NFI. “New Flyer has leveraged advanced technologies and our extensive zero-emission experience to create these vehicles, and this combination has resulted in an industry-leading battery-electric bus.”

New Flyer’s Xcelsior CHARGE NG™ bus incorporates three distinct technology advancements: high-energy batteries, advanced protective battery packaging for easy installation and simpler serviceability, and a lightweight electric traction drive system with up to 90% energy recovery. For more information, visit newflyer.com/ng.

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 150 cities in six countries. NFI offers the widest range of zero-emission battery and fuel cell-electric buses and coaches, and its vehicles have completed over 195 million EV service miles.

Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through its mobility solution ecosystem, which includes buses and coaches; infrastructure; parts and service; technology; workforce development and training; and vehicle financing. NFI also operates the Vehicle Innovation Center (“VIC”), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 400 interactive events, welcoming 9,000 industry professionals for EV and infrastructure training.

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 over 8,750 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 100,000 buses and coaches around the world. NFI’s common shares are traded on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures are traded on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and carfaircomposites.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. It also offers infrastructure development through NFI 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.newflyer.com.

Forward-Looking Statement

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI 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; production may be delayed or production rates may be decreased as a result of ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedarplus.ca.  

Due to the potential impact of these factors, NFI 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 investor and media inquiries, please contact: 
Stephen King 
P: 204.792.1300
[email protected]