Market Overview

MCI zero-emission coaches now approved for maximum California HVIP purchase incentive of $150,000 for each MCI battery-electric coach sold in the State of California

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DES PLAINES, Ill., Oct. 15, 2020 /CNW/ - (TSX:NFI) Motor Coach Industries ("MCI"), a subsidiary of NFI Group Inc. ("NFI"), one of the world's largest independent global bus manufacturers, today announced that MCI battery-electric D45 CRTe, D45 CRTe LE, and J4500e coaches have been approved by the California Air Resources Board ("CARB") for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP"). All three models have been approved for the highest allowable voucher of $150,000 for each MCI battery-electric coach sold in the State of California.

The approval adds to the existing NFI zero-emission heavy-duty transit buses eligible for vouchers, including New Flyer's 35, 40, and 60-foot Xcelsior CHARGE™ battery-electric and 40 and 60-foot Xcelsior CHARGE H2™ fuel-cell electric buses. Vouchers for New Flyer's heavy-duty transit buses range from $120,000 to $300,000 per bus, depending on the model.

The HVIP program was launched in partnership between CARB and CALSTART to help accelerate early market introduction of clean, low-carbon hybrid and electric vehicles, and is  accomplishing this by alleviating the higher incremental cost of advanced vehicles with its innovative voucher incentives. To view eligible vehicles, visit californiahvip.org/how-to-participate/#Eligible-Vehicle-Catalog.

"New Flyer has supported California's zero-emission adoption for years, and today we expand our mass transit bus offering with HVIP eligible MCI coaches," said Chris Stoddart, President, New Flyer and MCI. "Building on decades of New Flyer's electric bus design, engineering, supply chain and manufacturing expertise, both the MCI J4500e and all-accessible MCI D45 CRTe LE battery-electric coach models can offer sustainable transportation, eliminating emissions while delivering high-capacity commuter transit through and between urban destinations. MCI electric coaches use high-torque electric drive systems for operation at highway speeds, have long-distance range applications, and deliver plug-in battery charging to 100 percent in less than four hours."

By alleviating some of the upfront acquisition costs of battery-electric coaches, operators in California can transition their existing fleets faster to fully sustainable propulsion, enabling an exciting step toward a clean air future creating more livable communities and is a win for everyone.

MCI electric coaches are powered by American-made XALT batteries and integrate the design, performance, and technology of New Flyer's zero-emission transit buses, while leveraging New Flyer Infrastructure Solutions™ to deliver smart charging that supports successful electric coach deployment. To learn more, visit www.mcicoach.com.

CARB is part of the California Environmental Protection Agency, and is the clean air agency committed to building a greener future. Through its administration of the HVIP program, CARB has catalyzed electric adoption in the region, with a projected achievement of reducing greenhouse gases in California by 40 percent by 2030. CARB helped deploy over 4,000 vehicles and low NOx engines from over 7,000 vouchers that have been funded since 2009.

CALSTART is a member-based national nonprofit focused on building a high-tech clean-transportation industry that creates jobs, cuts air pollution and oil imports, and curbs climate change. It works with the public and private sectors to remove barriers to innovation, and drive the industry to a clean and prosperous future.

New Flyer and MCI have been leading innovation in mobility for 90 years, today supporting North American cities with sustainable buses and coaches, technology, and infrastructure. Together, they also operate the Vehicle Innovation Center, the first and only innovation lab of its kind dedicated to advancing bus technology and providing workforce development through electric bus training, now available online. New Flyer and MCI are also currently developing automated technology to improve safety in public transit.

In July 2020, NFI announced it was combining the New Flyer transit bus and MCI motorcoach businesses.

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 MCI

MCI is North America's leading public and private market motorcoach brand, building the J4500 (an industry best-seller for over a decade), the all-new 35-foot J3500 model, and the workhorse D-Series including the ADA-accessible MCI D45 CRT LE Commuter Coach and the battery-electric, zero-emission D45 CRTe LE. MCI also provides maintenance, repair, 24-hour roadside assistance, parts, and technician training through the industry's only Automotive Service Excellence (ASE) accredited MCI Academy.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group 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 coaches and to purchase parts or services, customers may not exercise options to purchase additional coaches, 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, the NFI Group 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.

SOURCE Motor Coach Industries

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/15/c8925.html

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