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    NFI   CA62910L1022

NFI GROUP INC.

(NFI)
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Delayed Toronto Stock Exchange  -  05/20 04:00:00 pm EDT
12.97 CAD   -1.44%
05/20NFI Group closing factory in Pembina, N.D., as part of cost-cutting plan
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05/20NFI Provides Update on Business Transformation Initiatives
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All change please? GILLIG finds tech partner for self-driving buses

01/10/2022 | 08:00am EDT

Jan 10 (Reuters) - RR.AI, a unit of self-driving technology startup Robotic Research, and U.S. bus maker GILLIG said on Monday they will jointly develop driver assistance systems and self-driving technology for commuter buses in the United States.

Making taxis autonomous has proved more difficult and expensive to develop than expected, but investors have pumped money into trucks and other commercial vehicles where automation could be viable sooner.

RR.AI and GILLIG said they would jointly develop Level 4 autonomous vehicle technology for buses, which would allow a vehicle to drive itself under certain circumstances, such as in a depot, but most of the time a human driver would be needed.

They said the technology could protect drivers through safety features, including automatic emergency braking, precision docking, blind spot detection and pedestrian avoidance.

"We believe the partnership with GILLIG will improve the safety and wellbeing of drivers, pedestrians, and roadway users all while increasing efficiency for transit authorities and lowering costs," RR.AI Chief Executive Alberto Lacaze said in a statement.

GILLIG said it expects to implement these technologies across all its bus models, but will deploy them first in its latest electric bus model.

The U.S. bus market is dominated by GILLIG, Canadian NFI Group Inc's New Flyer unit, and Canada-based Novabus, a unit of Volvo AB.

Robotic Research said last month it has raised $228 million from investors including SoftBank to scale up RR.AI's solutions for trucks, buses and logistics vehicles.

GILLIG's owner Henry Crown & Company participated in that funding round. (Reporting By Nick Carey; editing by Barbara Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO -2.07% 163.1 Delayed Quote.-22.20%
BELIEVE 0.97% 9.91 Real-time Quote.-41.35%
NFI GROUP INC. -1.44% 12.97 Delayed Quote.-35.98%
SOFTBANK GROUP CORP. 3.50% 5232 Delayed Quote.-3.72%
All news about NFI GROUP INC.
05/20NFI Group closing factory in Pembina, N.D., as part of cost-cutting plan
AQ
05/20NFI Provides Update on Business Transformation Initiatives
MT
05/19NFI Provides Update on NFI Forward 2.0 Business Transformation Initiatives
AQ
05/13California's Santa Barbara MTD orders 9 battery-electric buses from NFI
AQ
05/12California's Santa Barbara Metropolitan Transit District Orders Nine Buses From NFI
MT
05/12NFI to Deliver 4 Additional Zero-Emission Battery-Electric Buses to New York's CDTA
AQ
05/12California's Santa Barbara MTD orders 9 battery-electric buses from NFI
AQ
05/11NFI receives first order from Dallas Fort Worth International Airport for 4 battery-ele..
AQ
05/11NFI Group to Deliver Four Additional Zero-Emission Buses to New York's CDTA
MT
05/11NFI to Deliver 4 Additional Zero-Emission Battery-Electric Buses to New York's CDTA
AQ
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Analyst Recommendations on NFI GROUP INC.
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Financials (USD)
Sales 2022 2 265 M - -
Net income 2022 -89,8 M - -
Net Debt 2022 999 M - -
P/E ratio 2022 -9,49x
Yield 2022 1,63%
Capitalization 779 M 779 M -
EV / Sales 2022 0,79x
EV / Sales 2023 0,58x
Nbr of Employees 9 300
Free-Float 98,9%
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 10,10 $
Average target price 10,86 $
Spread / Average Target 7,46%
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Managers and Directors
Paul Marie Soubry President & Chief Executive Officer
Pipasu H. Soni Chief Financial Officer & Executive VP-Finance
Brian Vincent Tobin Chairman
Alex Kirshner Vice President-Information Technology
Larry Dean Edwards Independent Director
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