LARBERT, Scotland, March 22, 2021 /CNW/ - (TSX: NFI), (OTC:
NFYEF) Alexander Dennis Limited ("ADL"), a subsidiary of NFI Group
Inc. ("NFI"), one of the world's leading independent global bus
manufacturers, today welcomed the Scottish Government's
announcement of the award of £40.5 million in funding to bus
operators through a second round of the Scottish Ultra-Low Emission
Bus Scheme ("SULEB").
SULEB funding has been awarded to operators following a
competitive bidding process. Successful proposals for 172
zero-emission buses were made with ADL as the intended supplier.
With funding now in place, ADL will work with the awardees to
finalise contracts for these electric buses, which will be built by
ADL in Falkirk, in collaboration
with BYD, the company's partner for electric buses in the UK and
Ireland. ADL expects to finalise
these contracts in Q2 2021.
This follows an earlier first round of funding awarded in
September 2020, which has enabled 35
BYD ADL electric buses to be firmly ordered by bus operators.
ADL President & Managing Director, Paul Davies commented: "The Scottish Government
deserves huge credit for leading by example to support bus
operator's commitment to invest in cleaner, greener buses, and we
are delighted that bids for 172 of our electric buses have been
successful.
"These zero-emission buses will be built at our factory in
Falkirk and therefore ensure this
Scottish Government investment is made domestically, allowing the
benefits to be felt across our communities whilst helping to
underpin skilled jobs. We very much look forward to working with
the successful operators to finalise terms and get these vehicles
into service at pace."
SULEB helps bus companies invest in electric vehicles and
associated infrastructure, supporting a green recovery out of the
coronavirus pandemic, improving air quality and advancing
Scotland's ambitions for a
net-zero economy.
NFI is a leader and innovator in zero-emission mobility. The
Company's battery-electric and fuel-cell electric vehicles are in
more than 80 cities in four countries and have completed over 20
million electric service miles. NFI has the broadest offering of
electric vehicles including medium- and heavy-duty transit buses,
motor coaches and double-deck buses. NFI subsidiary ADL is the UK's
largest bus manufacturer and continues to lead the evolution to
zero-emission mobility with sustainable single-deck buses,
double-deck buses, and coaches.
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.newflyer.com,
www.mcicoach.com, www.alexander-dennis.com, www.arbocsv.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 contains certain forward-looking statements
which reflect the expectations of management regarding NFI's and
ADL's future growth, business prospects and sales opportunities.
These forward-looking statements reflect management's current
expectations regarding future events and opportunities and speak
only as of the date of this press release. Forward-looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future events, performance or results, and
will not necessarily be accurate indications of whether or not or
the times at or by which such events, performance or results will
be achieved. 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
transit operators to purchase buses; the COVID-19 pandemic will
likely adversely affect operations of transit operators and may
adversely impact or delay decisions to purchase buses and services;
there is no guarantee that transit operators awarded funding under
the Scottish Ultra-Low Emission Bus Scheme will draw upon all or
any of the funding awarded to purchase buses from ADL or from any
other original equipment manufacturer; transit operators are not
obligated to purchase transit buses exclusively from ADL; the
transit operator desiring to utilize the government funding and ADL
may be unable to agree on contractual terms for the purchase of
buses; and the other risks and uncertainties discussed in the
materials filed by NFI with the Canadian securities regulatory
authorities and available on SEDAR at www.sedar.com. Due to the
potential impact of these factors, NFI and ADL disclaim 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.
SOURCE NFI Group Inc.
