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ADL welcomes Scottish Government support for 35 new electric buses

LARBERT, Scotland, Sept. 25, 2020 /CNW/ - (TSX: NFI) Alexander Dennis Limited ("ADL"), a subsidiary of NFI Group Inc. ("NFI"), one of the world's largest independent global bus manufacturers, today welcomed the Scottish Government's announcement of the award of £7.4 million in funding to bus operators through the first round of the Scottish Ultra-Low Emission Bus Scheme.

BYD ADL Enviro200EV First Glasgow (CNW Group/NFI Group Inc.)
BYD ADL Enviro200EV First Glasgow (CNW Group/NFI Group Inc.)

The initiative helps bus companies invest in electric vehicles and associated infrastructure, supporting a green recovery out of the coronavirus pandemic, improving air quality and furthering Scotland's ambitions for a net-zero economy.

Funding has been awarded following a competitive bidding process. Three of the winning proposals were made with ADL as the intended supplier and the company will now work with successful bidders First Glasgow, Xplore Dundee and McGill's Buses to finalise contracts for these 35 zero-emission buses.

ADL President & Managing Director, Paul Davies commented: "As Britain's leading manufacturer of clean buses, we welcome the Scottish Government's award of funding for ultra-low emission buses, which will contribute to Scotland's green recovery.

"This is a much appreciated first step in stimulating urgently needed demand for new buses and we look forward to building 35 electric buses here in Scotland. Delivering cleaner air and reducing carbon emissions, they will set a great example for further investment in a better future for all. At ADL, we have the capacity, skilled team and commitment to build the many more low, ultra low and zero emission buses which our nation needs now."

ADL will manufacture the buses locally in Scotland, supporting skilled jobs and apprenticeships as well as its wider Scottish supply chain which will also benefit from Lothian Buses' separate confirmation of its intent to continue with an order originally placed in 2019 for the purchase of 98 Euro 6 double deck buses which ADL will build in Falkirk on Volvo chassis.

About NFI

With 9,000 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.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 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.


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