NFI Group's New Order for Sustainable Transit Solutions
New Flyer's heavy-duty transit buses will replace aging vehicles and enhance DRT's fleet, supporting the replenishment and expansion needed to ensure services across the Durham region.
NFI Group Inc. (NASDAQ: NFYEF), a prominent player in bus manufacturing, has recently announced a significant order from Durham Region Transit (DRT), representing a milestone in their journey towards sustainable public transit solutions. This order consists of 43 new buses, comprising seven state-of-the-art Xcelsior CHARGE NG™ battery-electric buses and 36 clean-diesel Xcelsior buses.
With a firm commitment to reducing the carbon footprint of public transit, NFI not only aims to enhance the operational efficiency of DRT's fleet but also to promote a greener environment for the Durham region’s residents. Established in 1988, New Flyer has built a lasting partnership with DRT, serving as a reliable provider of innovative and accessible transit solutions.
Enhancing Public Transit with Innovation
Chris Stoddart, President of North American Bus and Coach at NFI, expressed optimism about this latest achievement. He stated, "This latest investment underscores our shared commitment to enhancing mobility and improving the passenger experience. Through continuous innovation and strategic investments—like expanding our Winnipeg facility to support an all-Canadian bus manufacturing initiative—New Flyer is strengthening Canada's transit ecosystem for future generations."
The recent deployment of buses is aimed at revamping DRT's fleet, which operates in one of Ontario's largest transit systems, serving multiple municipalities and critical regions. New Flyer’s approach to building these buses is part of a larger initiative aiming to support sustainable transportation across communities.
All-Canadian Build Initiative
Excitingly, the Xcelsior CHARGE NG buses are among the first to be produced under New Flyer’s All-Canadian Build initiative. This expansion initiative not only elevates the manufacturing capabilities at their Winnipeg facility but is also anticipated to produce an additional 240 equivalent units annually, generating 250 new green jobs. This increase is further supported by the Government of Manitoba, emphasizing the importance of local endeavors in enhancing the green economy.
The Xcelsior CHARGE NG bus features cutting-edge technology. It boasts high-energy batteries paired with advanced protective battery packaging, promoting easier installation and maintenance. Moreover, its lightweight electric traction drive system achieves up to 90% energy recovery, underscoring the emphasis on efficiency and sustainability.
NFI Group's Commitment to Sustainable Solutions
NFI Group showcases its prowess in mass mobility with a suite of products that include zero-emission buses and coaches, essential infrastructure, and integrated technological solutions. As a leader in this sector, NFI works diligently to meet public transportation demands that align with modern sustainability goals.
Employing over 9,100 professionals globally, NFI remains a beacon for innovation in clean transportation. The diverse range of brands under its umbrella serves different transit needs across various markets. In particular, the New Flyer brand is noted for its heavy-duty transit buses, while its subsidiary MCI specializes in motorcoaches, demonstrating NFI's comprehensive approach to public transit.
Corporate Information and Insights
NFI’s common shares are traded on the Toronto Stock Exchange (TSX) under the symbol NFI, and their commitment reflects not only a focus on immediate transportation needs but also an eye toward the future of urban mobility. Their initiatives aim to help create more livable cities through connected, clean, and convenient transportation solutions.
For any inquiries, media representatives can reach Melissa Schnee at 385.910.6861, while investors may contact Stephen King at 204.792.1300.
Frequently Asked Questions
What types of buses are included in the new DRT order?
The order includes seven Xcelsior CHARGE NG™ battery-electric buses and 36 clean-diesel Xcelsior buses.
What is the significance of the All-Canadian Build initiative?
This initiative expands the manufacturing capacity in Winnipeg, supporting local job creation and production of environmentally friendly transportation options.
How does NFI contribute to sustainable transit solutions?
NFI develops zero-emission buses, promotes infrastructure for charging solutions, and integrates advanced technologies to enhance mass mobility sustainably.
Who can inquiries be directed to?
Media inquiries can be directed to Melissa Schnee, while investors can contact Stephen King for more information.
What is the trading symbol for NFI on the TSX?
NFI's common shares are traded on the TSX under the symbol NFI.
