NFI enters the Australian market through ADL electric bus body supply agreement with Nexport

WINNIPEG, Manitoba, July 22, 2021 (GLOBE NEWSWIRE) — (TSX: NFI, OTC: NFYEF) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in mobility solutions, today announced a supply agreement for NFI subsidiary Alexander Dennis Limited (“ADL”) to provide a range of zero-emission buses to the Australian market.

Under the agreement, Nexport (“Nexport”), an Australian owned supplier and producer of electric buses, will assemble bodies from the ADL Enviro family on a BYD chassis for the local Australian transit market. Nexport will also lead the customer sales and service relationship.

ADL and BYD’s electric vehicle partnership has been a great success in the UK, Ireland and New Zealand, where they have delivered and taken orders for more than 1,000 battery-electric vehicles and clocked over 30 million miles of zero-emission service.

The supply agreement will bring a range of new locally-assembled electric bus products that are currently not available to local bus operators in Australia. The first buses are targeted to be on the road in early 2022 with volume production to be underway by the end of that year.

“We continue to look for innovative ways to lead the evolution to zero-emission mobility around the world and this strategic partnership between ADL and Nexport will help further support that evolution in the southern hemisphere,” said Paul Soubry, President and Chief Executive Officer, NFI. “Our electric buses and coaches have seen strong growth in numerous markets, and, through this partnership, our electric vehicles will now be available insix countries, with plans for further geographic expansion in the near future through ADL.”

“We are delighted to be partnering with Nexport in the Australian market as we believe that our globally renowned buses can help deliver the country’s decarbonisation agenda,” said Paul Davies, President and Managing Director, ADL. “This agreement fits perfectly with our model of manufacturing close to our customers, supporting highly skilled local jobs and developing skills in green technology while adding value to local economies. We’re thrilled to be collaborating with Nexport, who share our unwavering focus of delivering best-in-class customer support and outstanding quality.”

Michel van Maanen, CEO of Nexport, stated, “This agreement will be another significant boost to the Australian manufacturing renaissance. We are delighted to partner with Alexander Dennis who have been extremely progressive in the zero-emission bus space globally. For Nexport to be able to partner with such a strong global company further demonstrates our business objective to bring the world’s best zero-emission mobility technology to our shores and manufacturing the products locally, by Australians.”

NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 80 cities in six countries. NFI offers the widest range of zero-emission battery and fuel cell electric buses and coaches, and the Company’s vehicles have completed over 40 million EV service miles. Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through a four-pillar approach that includes buses and coaches, technology, infrastructure, and workforce development. It 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 late 2017, the VIC has hosted over 300 interactive events, welcoming 3,000 industry professionals for EV and infrastructure training. For more information, visit newflyer.com/VIC.

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 nine 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.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts.

About Alexander Dennis

Alexander Dennis Limited (“ADL”) is a global leader in the design and manufacture of double deck buses and is also the UK’s largest bus and coach manufacturer. ADL offers single and double deck vehicles under the brands of Alexander Dennis and Plaxton, and has over 31,000 vehicles in service in the UK, Europe, Hong Kong, Singapore, New Zealand, Mexico, Canada and the United States. Further information is available at www.alexander-dennis.com.

Forward-Looking Statements

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 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, 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 ADL media inquiries, please contact:
Jacqueline Anderson
+44 7796 715 607
[email protected]

For investor inquiries, please contact:
Stephen King
P: 204.224.6382
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7082032a-4376-45bf-aeda-75de09a5901c

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