ZEB

NFI announces fourth quarter and full year 2023 results

Retrieved on: 
Thursday, February 29, 2024

WINNIPEG, Manitoba, Feb. 29, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its audited consolidated financial results for Fiscal 2023.

Key Points: 
  • Results noted herein are for the 13-week period ("2023 Q4”) and the 52-week period ("Fiscal 2023”) ended December 31, 2023.
  • The comparisons reported in this press release compare 2023 Q4 to the 13-week period ("2022 Q4") and Fiscal 2023 to the 53-week period ("Fiscal 2022") ended January 1, 2023.
  • Comparisons and comments are also made to the 13-week period (“2023 Q3”) ended October 1, 2023.
  • NFI generated $19 million in cash flows from working capital in the fourth quarter as higher vehicle deliveries lowered finished goods and work-in-progress inventory.

NFI Announces Third Quarter 2023 Results

Retrieved on: 
Wednesday, November 8, 2023

WINNIPEG, Manitoba, Nov. 08, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited interim condensed consolidated financial results for the third quarter of 2023.

Key Points: 
  • Results noted herein are for the 13-week period ("2023 Q3”) and the 52-week period ("LTM 2023 Q3”) ended October 1, 2023.
  • Comparisons and comments are also made to the 13-week period (“2023 Q2”) ended July 2, 2023.
  • In 2023 Q3, NFI also saw an increase in orders for ARBOC and MCI vehicles, up 93% and 47% year-over-year respectively.
  • NFI also reaffirms its Fiscal 2024, and its 2025 targets, as presented on March 1, 2023.

NFI Announces Second Quarter 2023 Results and Update on Comprehensive Refinancing Plan

Retrieved on: 
Wednesday, August 16, 2023

WINNIPEG, Manitoba, Aug. 16, 2023 (GLOBE NEWSWIRE) -- August 16, 2023: (TSX: NFI, OTC: NFYEF, TSX: NFI.DB, TSX: NFI.R) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited consolidated financial results for the second quarter of 2023.

Key Points: 
  • Post-completion of the Refinancing Plan, the minimum liquidity requirement under the senior facilities will increase to $50 million.
  • If the Refinancing Plan is not completed by August 31, 2023, the Company will require relief from the lenders under its senior secured facilities and potentially additional liquidity support.
  • NFI experienced significant improvement in supplier performance and on-time production during the quarter, supporting a 66% year-over-year increase in bus and coach deliveries.
  • NFI also reaffirms its Fiscal 2024, and its 2025 targets, as presented on March 1, 2023.

San Diego Metropolitan Transit System selects bp pulse as charge management software provider to optimize electric bus fleet efficiency

Retrieved on: 
Wednesday, April 26, 2023

bp pulse was selected in a competitive bid after an initial pilot testing the Omega charge management software.

Key Points: 
  • bp pulse was selected in a competitive bid after an initial pilot testing the Omega charge management software.
  • The project will begin at the San Diego Metropolitan Transit System's (MTS) South Bay bus facility and expand to an additional three sites over five years.
  • MOUNTAIN VIEW, Calif., April 26, 2023 /PRNewswire/ -- bp pulse announced today the company has been selected by the San Diego Metro Transit System (MTS) to manage its growing electric bus fleet through their charge management software (CMS), Omega.
  • MTS has committed to transitioning its bus fleet from compressed natural gas to 100% zero tailpipe emission bus (ZEB) by 2040.

UNIQLO to Open New Prototype Store at Maebashi, Gunma

Retrieved on: 
Wednesday, April 19, 2023

TOKYO, Apr 19, 2023 - (JCN Newswire) - Global apparel retailer UNIQLO will open the UNIQLO Maebashi Minami IC Store on Friday, April 21st, at Maebashi (Gunma Prefecture, Japan).

Key Points: 
  • TOKYO, Apr 19, 2023 - (JCN Newswire) - Global apparel retailer UNIQLO will open the UNIQLO Maebashi Minami IC Store on Friday, April 21st, at Maebashi (Gunma Prefecture, Japan).
  • This new store represents a prototype for global roadside UNIQLO stores going forward, and features innovative design elements that are a first-of-their-kind for the company.
  • The first UNIQLO COFFEE was opened in the UNIQLO Ginza Global Flagship Store in 2021, and together with UNIQLO Tokyo Global Flagship Store, this will be the third location.
  • UNIQLO GARDEN is a green space surrounding the approximately 2,500m2 UNIQLO Maebashi Minami IC Store, with uniquely-designed benches, desks, and parasols.

NFI Announces Fourth Quarter and Full Year 2022 Results and Multi-Year Guidance

Retrieved on: 
Wednesday, March 1, 2023

WINNIPEG, Manitoba, March 01, 2023 (GLOBE NEWSWIRE) --  (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its condensed consolidated financial results for Fiscal 2022.

Key Points: 
  • Results noted herein are for the 13-week period ("2022 Q4”) and the 52-week period ("Fiscal 2022”) ended January 1, 2023.
  • Work-in-progress ("WIP") inventory decreased by $126 million from 2022 Q3 as many buses awaiting parts were completed and delivered in the fourth quarter.
  • In 2022 Q4, NFI received orders for 1,118 EUs of battery-electric, ZEBs, a 780% increase from the 127 EUs from 2022 Q3.
  • NFI experienced significant inflation with respect to supplier pricing and employee wages, and through raw material prices purchased directly by NFI in 2022.

San Diego MTS selects NFI with award for up to 473 low- and zero-emission buses

Retrieved on: 
Wednesday, November 30, 2022

ST. CLOUD, Minn., Nov. 30, 2022 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that its subsidiary New Flyer of America Inc. (“New Flyer”) has received new firm orders for 41 transit buses from the San Diego Metropolitan Transit System (“MTS”) with options for up to an additional 432 buses. In total, NFI will add 617 Equivalent Units (“EUs”) to its backlog from firm and option orders. These units were included in NFI’s pending awards at the end of the third quarter of 2022. The firm orders include:

Key Points: 
  • The firm orders include:
    28 Xcelsior compressed natural gas (CNG) forty-foot, heavy-duty transit buses, and
    13 Xcelsior CHARGE NG battery-electric forty-foot, heavy-duty transit buses.
  • The five-year contract includes options to purchase forty-foot and sixty-foot Xcelsior CNG buses, as well as forty-foot and sixty-foot Xcelsior CHARGE NG battery-electric buses.
  • MTS is one of the oldest transit systems in Southern California, serving the San Diego communityfor more than 135 years.
  • MTS operates one of the cleanest public transit fleets in the United States, providing 88 million annual passenger rides across San Diego County on nearly 100 fixed bus routes.

Governor Newsom Signs New Legislation into Law that Will Accelerate Public Transit Industry's Zero-Emission Transition

Retrieved on: 
Saturday, September 17, 2022

SACRAMENTO, Calif., Sept. 17, 2022 /PRNewswire/ -- Governor Gavin Newsom signed into law Assembly Bill 2622, authored by Assemblymember Kevin Mullin (D-San Mateo) and sponsored by the California Transit Association, to accelerate the public transit industry's complete transition to zero-emission bus fleets. AB 2622 extends Mullin's previous legislation (AB 784, 2019) that created a sales and use tax exemption specifically for zero-emission buses (ZEBs) purchased by California's public transit agencies from January 1, 2024 to January 1, 2026. The continuation builds on AB 784's realized success in encouraging and easing transit agencies' purchase of ZEBs and supports compliance with the California Air Resources Board's 2019 Innovative Clean Transit (ICT) regulation requiring all public transit bus fleets to be fully zero-emission by 2040. The Association released the following statement applauding today's bill signing:

Key Points: 
  • Sponsored by the California Transit Association, AB 2622 (Mullin) To Further Propel Public Transit's ZEB Adoption
    SACRAMENTO, Calif., Sept. 17, 2022 /PRNewswire/ -- Governor Gavin Newsom signed into law Assembly Bill 2622, authored by Assemblymember Kevin Mullin (D-San Mateo) and sponsored by the California Transit Association, to accelerate the public transit industry's complete transition to zero-emission bus fleets.
  • Reducing the cost for ZEB purchasing on public transit agencies is an investment in cleaner air and more sustainable communities across California.
  • The California Transit Association is comprised of more than 240 member organizations, including all the state's largest urban transit operators, as well as dozens of transit agencies in suburban and rural areas.
  • Its membership also extends to include commuter rail agencies, transit support groups, national and international transit suppliers, and government agencies.

Canada Infrastructure Bank and City of Ottawa achieve financial close on $380 million investment toward OC Transpo zero-emission buses

Retrieved on: 
Thursday, August 11, 2022

OTTAWA, ON, Aug. 11, 2022 /CNW/ - The Canada Infrastructure Bank (CIB) has achieved financial close on an investment of up to $380 million with the City of Ottawa (City) to help finance up to an additional 446 OC Transpo zero-emission buses (ZEBs) through 2027.

Key Points: 
  • OTTAWA, ON, Aug. 11, 2022 /CNW/ - The Canada Infrastructure Bank (CIB) has achieved financial close on an investment of up to $380 million with the City of Ottawa (City) to help finance up to an additional 446 OC Transpo zero-emission buses (ZEBs) through 2027.
  • With the gradual phase-out of diesel buses as they reach the end of their life cycle, OC Transpo could achieve a fully zero-emission bus fleet by 2036.
  • Energy supply and charging infrastructure will be supplied by Hydro Ottawa through a separate agreement with the City.
  • I am delighted our investment to support the City of Ottawa's transition to a fleet of 446 zero-emission buses has achieved financial close.

The CIB to invest up to $68 million in Durham Region's battery electric buses

Retrieved on: 
Thursday, June 9, 2022

The CIB's investment will contribute towards a portion of the capital acquisition costs of the battery electric buses.

Key Points: 
  • The CIB's investment will contribute towards a portion of the capital acquisition costs of the battery electric buses.
  • A high priority in DRT's E-Mission Zero strategy , battery electric buses can improve the quality of life for Durham Region residents who will benefit from cleaner commuting options.
  • The implementation of up to 100 battery electric buses is estimated to save approximately 8,000 tonnes ofcarbon emissions per year.
  • I am pleased the CIB is making this important investment to support Durham Region's expansion of zero-emission buses.