Major Contract Awarded to New Flyer for NJ Transit Buses

New Flyer Achieves Landmark Deal with NJ Transit

ST. CLOUD, Minn. — NFI Group Inc. (TSX: NFI, OTC: NFYEF, TSX: NFI.DB), renowned for its dedication to innovative bus and coach mobility solutions, is excited to announce a pivotal contract awarded to its subsidiary, New Flyer of America Inc. This contract, secured from New Jersey Transit Corporation (NJ TRANSIT), entails the purchase of up to 750 Xcelsior 60-foot clean-diesel transit buses. This commitment signifies a major step forward in supporting high-capacity public transport.

Details of the Contract

The contract begins with an initial order of 200 buses, which translates to 400 equivalent units (EUs). Deliveries are set to commence in 2026, with options for NJ TRANSIT to acquire an additional 550 buses, equating to 1,100 EUs in total. This deal is included in New Flyer’s first quarter backlog for 2025 and represents one of the largest procurements for clean-diesel buses in the company’s history. It highlights New Flyer’s unwavering commitment to delivering reliable and efficient transit solutions that enhance community connectivity and aid agencies like NJ TRANSIT in fleet modernization.

Strengthening Partnerships

Chris Stoddart, President of New Flyer, expressed his thoughts on the extensive partnership with NJ TRANSIT, stating, "Our 25-year collaboration is rooted in innovation, trust, and performance. NJ Transit utilizes various vehicles from the NFI family, which includes New Flyer and MCI, incorporating clean diesel, CNG, and battery-electric technologies. This is complemented by our dedicated NFI Parts warehouse in New Jersey, ensuring daily deliveries to NJ TRANSIT’s maintenance facilities." This kind of synergy allows for the seamless operation of the transit services across the state.

NJ Transit: A Key Player in Public Transport

NJ TRANSIT plays a quintessential role in public transportation, facilitating over 225 million passenger trips annually across New Jersey. With a substantial fleet exceeding 3,500 vehicles, more than 2,200 of which are buses, the company is vital for enhancing regional mobility. This new fleet of buses will replace older units, significantly upgrading service reliability and operational efficiency throughout the network.

Future of Transit in New Jersey

Kris Kolluri, President and CEO of NJ TRANSIT, emphasized this initiative's importance, stating: "This procurement is a major milestone toward our goal of a fully modernized bus fleet by 2031. The new articulated buses will enhance capacity on busy routes while improving the onboard experience for our customers with increased comfort, reliability, and accessibility."

The Xcelsior Clean-Diesel Platform

The Xcelsior clean-diesel buses are designed to accommodate urban demands, utilizing ultra-low sulfur diesel fuel and advanced emissions control systems. This commitment to low-emission transit solutions makes the Xcelsior platform a standout choice for cities looking to modernize their public transport networks while maintaining environmental standards.

About NFI Group

NFI leverages over 450 years of combined experience in the industry, offering a vast array of propulsion-agnostic bus and coach platforms, which include electric models that lead the market. By providing low- and zero-emission transit options, NFI addresses the current urban demands for scalable, smart mobility solutions. Their objective is clear: to contribute to cleaner, more connected cities worldwide.

NFI operates with nearly 9,000 team members in ten countries and is recognized as a preeminent global bus manufacturer. They produce several well-known brands, including New Flyer (heavy-duty transit buses), MCI (motorcoaches), and others, supporting a robust fleet of over 100,000 buses and coaches globally. This includes an extensive suite of sustainable drive systems like zero-emission electric, natural gas, hybrid-electric, and clean diesel technologies.

Contact Information for Inquiries

For media inquiries, please reach out to:

Melissa Schnee
P: 385.910.6861
Email: Melissa_Schnee@newflyer.com

For investor inquiries, please contact:

Stephen King
P: 204.792.1300
Email: Stephen.King@nfigroup.com

Frequently Asked Questions

What is the significant contract announced by New Flyer?

The contract involves NJ TRANSIT purchasing up to 750 Xcelsior clean-diesel transit buses from New Flyer.

When will the delivery of the buses begin?

The delivery of the buses is scheduled to start in 2026.

How many buses are included in the initial order?

The initial firm order consists of 200 buses, equating to 400 equivalent units.

What is the goal of NJ TRANSIT with this procurement?

This procurement is part of NJ TRANSIT's commitment to fully modernize its bus fleet by 2031.

What type of technology do the Xcelsior buses use?

The Xcelsior buses are equipped with a clean-diesel platform, utilizing ultra-low sulfur diesel fuel and advanced emissions control systems.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.