MACON, Ga.--(BUSINESS WIRE)--Oct 1, 2024--
Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, commends the announcement by the U.S. Environmental Protection Agency (EPA) to provide $965 million in additional funding for clean school buses to reduce pollution and enhance student and community health. The fourth round of funding builds on nearly $3 billion already awarded through the EPA’s landmark Clean School Bus Rebate Program. The program to date will enable approximately 1,300 school districts across the U.S. to replace old diesel buses with nearly 8,700 electric and ultra-low emission vehicles.
The EPA’s Clean School Bus Rebate Program is part of the Bipartisan Infrastructure Law (BIL), which provides an unprecedented $5 billion of funding to transform the nation’s fleet of school buses. The Clean School Bus Program funds zero- and low-emission buses, including electric and propane buses, which produce lower tailpipe emissions than their diesel predecessors.
“The EPA announced nearly $1 billion of funding from the fourth round of the widely popular and highly effective Clean School Bus Rebate Program,” said Phil Horlock, president and CEO of Blue Bird Corporation. “The program continues to be instrumental in accelerating the adoption of clean student transportation. The funds will enable even more school districts nationwide to acquire electric school buses to protect student health and air quality in our communities. Blue Bird’s growth plans meet the increasing demand for zero-emission school buses. As the leader in zero- and low-emission school buses, Blue Bird continues to invest in technology innovation, electric school bus manufacturing expansion, and good-paying jobs in the U.S.”
Blue Bird has over 2,000 electric, zero-emission school buses in operation today – more than any other school bus manufacturer in North America. To date, the company’s electric school buses have covered more than five million miles. Replacing 2,000 diesel-powered school buses with an equal number of zero-emission vehicles reduces harmful carbon emissions by more than 21,000 metric tons annually. In addition, nearly 150,000 students a day are no longer exposed to diesel tailpipe emissions.
Blue Bird continues to significantly expand its electric school bus production to meet the rising demand for clean student transportation nationwide. In 2023, the company opened a 40,000 square foot Electric Vehicle (EV) Build-up Center. In addition, the U.S. Department of Energy (DOE) recently selected Blue Bird to receive an $80 million grant to convert a former manufacturing site for diesel-powered motorhomes into an approximately 600,000 square foot, electric and low-emissions vehicle manufacturing facility. The grant represents 50 percent of the total $160 million investment required to complete the conversion project. The conversion will add more than 400 new, good-paying manufacturing jobs.
Blue Bird is the only U.S.-owned and operated school bus manufacturer in the United States. The company manufactures its school buses in Fort Valley, Georgia. The shift to clean student transportation helps Blue Bird sustain approximately 2,000 good-paying jobs.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. School buses carry the most precious cargo in the world – 25 million children twice a day – making them the most trusted mode of student transportation. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations for future financial performance, business strategies or expectations for our business. Specifically, forward-looking statements include statements in this press release regarding earnings growth and Blue Bird’s future positioning and may include other statements preceded by, followed by or that include the words “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions.
These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. The factors described above, as well as risk factors described in reports filed with the SEC by us (available at www.sec.gov ), could cause our actual results to differ materially from estimates or expectations reflected in such forward-looking statements.
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CONTACT: Blue Bird Investor Contact
Mark Benfield
Investor Relations
M: +1.478.822.2315
E:[email protected] Bird Media Contact
Julianne Barclay
TSN Communications
M: +1.267.934.5340
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PRIMARY/SECONDARY ENVIRONMENT EDUCATION TEENS CHILDREN ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) PROFESSIONAL SERVICES EV/ELECTRIC VEHICLES ENVIRONMENTAL ISSUES ENVIRONMENTAL HEALTH CONSUMER PUBLIC TRANSPORT OTHER TRANSPORT OTHER MANUFACTURING TRUCKING TRANSPORT AUTOMOTIVE MANUFACTURING MANUFACTURING ALTERNATIVE ENERGY ENERGY OTHER EDUCATION TRAINING PRESCHOOL AUTOMOTIVE UNIVERSITY
SOURCE: Blue Bird Corporation
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PUB: 10/01/2024 11:53 AM/DISC: 10/01/2024 11:53 AM
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