Mr. Chris Stoddart reports
NFI ANNOUNCES BATTERY PACK SUPPLY AGREEMENT WITH AMERICAN BATTERY SYSTEMS, INCREASING THE RESILIENCY OF NFI'S NORTH AMERICAN BATTERY SUPPLY CHAIN
NFI Group Inc. has formed a partnership with American Battery Solutions (ABS) for the supply of custom battery packs to power NFI's battery-electric transit buses and coaches in North America that will increase capacity and add resiliency to NFI's North American battery supply.
"Demand for battery-electric buses is accelerating, and we are leading the evolution to zero-emission public transportation. Our partnership with ABS will provide NFI with the capacity, flexibility, and resiliency we need as we ramp up production at our facilities across North America," said Chris Stoddart, President, North American Bus and Coach, NFI. "ABS has made significant investments in their pack assembly and battery technology, providing us with industry leading solutions. We look forward to working together with ABS to advance battery technology for public transportation."
ABS designs and manufactures modular battery solutions for transportation, industrial, and commercial markets primarily in North America and Europe. The team at ABS includes some of the most recognized battery systems experts in the industry, possessing decades of experience in designing, developing, and manufacturing high-volume advanced battery systems.
NFI entered into a five-year agreement with ABS in 2021 and, following two years of extensive development and testing, NFI is now launching ABS batteries into bus production for customer deliveries starting in the first quarter of 2024. ABS will act as a second battery supplier to NFI, and will support NFI's significant battery-electric production ramp-up planned for 2024 and 2025.
The packages designed for NFI utilize NMC cells sourced from one of the world's leading battery cell manufacturers, with cell volume secured through a multi-year supply agreement. ABS' scalable custom designed pack solution fits inside NFI's existing battery enclosure design, providing an alternate source of supply for NFI's battery-electric bus contracts and creating opportunity for technology enhancements. Design and engineering for these new battery packs has been led from ABS' Michigan Innovation Center in Lake Orion, with pack production at ABS' Springboro, OH manufacturing facility.
"We are excited and proud to partner with NFI, a company at the forefront of electric-powered public transportation. This contract reflects NFI's well-placed confidence in ABS' ability to meet technical and performance requirements at a healthy volume with the right cost position," said Subhash Dhar, ABS Founder, Chairman & CEO. "We have invested over $200 million in our state-of-the-art automated pack assembly line and facility, with the capacity to deliver the product NFI needs so that it can continue to lead the electrification of public transportation in North America."
NFI's battery and fuel cell-electric buses and coaches have collectively travelled over 120 million electric service miles globally, with NFI Infrastructure Solutions' turnkey smart charging services delivering more than 410 chargers delivered to date. NFI is a leader in zero-emission mobility, with electric vehicles operating (or on order) in more than 140 cities in six countries.
Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through its mobility solution ecosystem, which includes buses and coaches; infrastructure; parts and service; technology; workforce development and training; and vehicle financing. NFI also operates the Vehicle Innovation Center ("VIC"), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for EV and infrastructure training.
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 7,700 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer(TM) (heavy-duty transit buses), MCI(TM) (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC(TM) (low-floor cutaway and medium-duty buses), and NFI Parts(TM). 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 100,000 buses and coaches around the world. NFI's common shares are traded on the Toronto Stock Exchange under the symbol NFI, its convertible unsecured debentures trade on the Toronto Stock Exchange under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and www.carfaircomposites.com.
About New Flyer
New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior(TM) and Xcelsior CHARGE(TM) brands. It also offers infrastructure development through NFI Infrastructure Solutions(TM), a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission.
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