Solaris maintained its position as the European e-mobility leader. The company sums up 2023 (2024)

•Solaris sold atotal of1456 vehicles in2023,•Thecompany’s revenues stood at€819 million, representing agrowth ofover 18% compared to2022,•Thecompany held theno. 1 position inthe zero-emission busmarket in2023 with a15.2% market share ,•Themanufacturer maintained itsno. 1 position inthe zero-emission busaggregated market shares from 2012 to2023 with a14.5% share ,•Battery vehicles, hydrogen vehicles, trolleybuses, andhybrid buses, forthe first time inthe company's history, exceeded more than 80% ofthe share inthe sales mix, •In2023 company presented itsproduct inCanada, aspart ofSolaris' strategy toenter theUSA andCanada with itsoffer.

• Solaris sold atotal of1456 vehicles in2023,
• The company’s revenues stood at€819 million, representing agrowth ofover 18% compared to2022,
• The company held theno. 1 position inthe zero-emission busmarket in2023 with a15.2% market share[1],
• The manufacturer maintained itsno. 1 position inthe zero-emission busaggregated market shares from 2012 to2023 with a14.5% share[2],
• Battery vehicles, hydrogen vehicles, trolleybuses, andhybrid buses, forthe first time inthe company's history, exceeded more than 80% ofthe share inthe sales mix,
• In 2023 company presented itsproduct inCanada, aspart ofSolaris' strategy toenter theUSA andCanada with itsoffer.

COMPANY RESULTS IN2023

In 2023 Solaris hasproved with itsproduction andsales results that itis anorganization well prepared forthe constantly evolving market environment andis acompany that isresilient tothe dynamically changing economic context. Solaris reported solid sales results in2023, selling atotal of1456 vehicles.

It isworth emphasizing that thevast majority ofcontracts executed in2023 were forthe supply ofvehicles with completely zero-emission orlow-emission drives. Battery vehicles, hydrogen vehicles, trolleybuses, andhybrid buses, forthe first time inthe company's history, exceeded 80% ofthe share inthe sales mixand amounted toexactly 82%.

The growing share oflow- andzero-emission vehicles inSolaris' sales mix, shows good recognition ofthe market andthe manufacturer's adjustment tomarket expectations. Inmost EUcountries, theshare ofe-mobility vehicles inthe transport mixhas been growing dynamically inthe last fewyears. Solaris, building itsportfolio inthis segment formany years, isvery well prepared forthe changing expectations ofend-users. This isconfirmed bythe company's maintenance ofthe position ofthe European leader inthe zero emission bussegment (battery buses + fuel cell buses) inthe years 2012-2023 atthe endof 2023 with acumulative share of14.5%.

Based onregistrations ofvehicles in2023, Solaris hadposition no. 1 inthe zero-emission busmarket (battery buses + fuel cell buses) with a15.2% market share.

Record-breaking sales ofadvanced technologically vehicles with alternative drives inthe company's history contributed toequally record-high revenues in2023. In2023, Solaris' operations generated revenues ofEUR 819 million. This means anincrease ofover 18% compared tothe previous year.

In 2023 Solaris delivered itsproducts tocustomers from 17 countries. Major recipients ofSolaris vehicles included, among other carriers, operators from Poland, Spain, Italy, Norway, Germany, theCzech Republic, Romania, andHungary. Inthe reported period, Solaris delivered atotal of690 units ofbattery electric buses. Also worthy ofnote isthe fact that Solaris sold 202 units oftrolleybuses and81 hydrogen buses.

HYDROGEN LEADERSHIP

The increase inthe number ofhydrogen buses sold last year clearly demonstrates thegrowing interest inthis technology asmore andmore operators recognize itas atarget solution fortheir public transport systems. ​By theend of2023, Solaris hasdelivered atotal of180 hydrogen buses tothe market, consolidating itsposition asthe European leader inthis segment. Thefact that 44.5% ofall hydrogen buses registered inEurope in2023 areSolaris vehicles isevidence ofthe company's dominance inthis field.

There isevery indication that this trend will continue. This isalso reflected inthe large number ofnew orders Solaris hasreceived forthe coming years. Bythe endof 2023, thecompany hasreceived orders for535 hydrogen-powered vehicles, with delivery dates ranging from 2024 to2026. Tomeet thegrowing demand andincrease production capacity, Solaris hasjust inaugurated anew hall dedicated tothe production ofhydrogen vehicles. This state-of-the-art facility will become theheart ofthe company's hydrogen andCNG busproduction, underlining itscommitment topromoting green transport solutions.

SIGNIFICANT CONTRACTS

In 2023, Solaris acquired andalso delivered (partially orfully) anumber ofsignificant contracts:

• In April, Solaris delivered 183 Urbino articulated electric buses toOslo, thelargest order inthe company's history.
• Under aframework agreement with Consip S.p.A., Solaris received anorder for98 Urbino electric buses forCagliari inSardinia.
• Danish operator AarBus ordered 56 Solaris Urbino 18 articulated electric buses fordelivery in2024 and2025.
• BVG Berlin ordered 50 Solaris Urbino 18 electric buses fordelivery in2024 and2025.
• TPER inBologna ordered 130 Solaris hydrogen buses, thelargest single order forhydrogen vehicles inEurope todate. First deliveries arescheduled for2024.
• Azienda Veneziana della Mobilita ofVenice hasordered 90 Solaris hydrogen buses fordelivery from November 2025.
• In-der-City-Bus GmbH ofFrankfurt amMain hasordered 10 Solaris hydrogen buses fordelivery inthe first quarter of2024.
• Rebus Regionalbus Rostock inGermany ordered 52 hydrogen buses, including five articulated models, fordelivery bythe endof 2024.
• The public transport authority inDuisburg ordered 25 Solaris hydrogen buses asa first step towards afully zero-emission fleet by2030.
• Regionalverkehr Köln GmbH (RVK) inGermany hasannounced itsthird order forarticulated hydrogen buses, with 18 units tobe delivered inthe second half of2024.
• Continuing toinvest inzero-emission public transport, Transports Metropolitans deBarcelona (TMB) hasordered atotal of36 Urbino 12 buses andtwo Solaris articulated hydrogen buses fordelivery in2024.

PRODUCT

2023 hasalso brought news interms ofthe company's product range. Last October, atthe Busworld exhibition inBrussels, Solaris unveiled anew version ofits electric bus, based ona newdrive architecture that guarantees all-day operation andexceptional efficiency foroperators, while maintaining alow battery weight. Thelaunch ofthe busalso marked thedebut ofa newgeneration ofbatteries, allmounted onthe roof only. This configuration guarantees ranges ofover 600 kmon asingle charge[3].

The newbus ischaracterized byits design, which doesn’t include aconventional engine tower. Instead ofit, thebus hasbeen fitted with amodular driveline with components placed onthe roof andin therear ofthe vehicle. This solution maximizes thepassenger capacity, facilitates servicing, andprovides agreat deal offlexibility when itcomes toroof arrangement options.

The articulated model hasrecently been joined bya structurally similar 12-metre version. Thevehicle wasunveiled atthe MOBILITY MOVE exhibition inBerlin inMarch 2024. Both thenew Urbino 12 electric andthe articulated version ofthis model fulfil allsafety standards, including newGSR2 andcybersecurity requirements that will enter into force inJuly 2024 fornewly-registered vehicles.

SUSTAINABILITY

Sustainability isa keyelement ofSolaris's strategy, acommon assumption across theCAF Group. In2023, thecompany will continue toimplement itsESG policies andwill progressively reduce itscarbon footprint from 2021 onwards. Infact, Solaris's mission isnot only todevelop alternatives tointernal combustion engines. Itis also toreduce theemissions associated with itsproduction andservice processes. Theoverall goal ofall these activities isfor Solaris toachieve total carbon neutrality by2045.

STRATEGY

As part ofits development strategy forthe coming years, Solaris hasidentified three keyareas ofaction. Oneof thepriorities isto maintain itsposition asEuropean leader inthe zero-emission vehicle segment. Thecompany also plans toexpand itsproduct offering inthe European intercity market andto enter theNorth American market with adedicated zero-emission vehicle offer.

Product innovation, awide range portfolio anda flexible response totechnological trends andmarket needs form thebasis ofthe company's activities. Asa result, Solaris hasstrengthened itsleading position inthe European market. Today, Solaris offers acomplete range ofzero-emission solutions forpublic transport, including 10 models ofelectric vehicles, hydrogen-powered vehicles andtrolleybuses. This iscomplemented bya comprehensive range ofbattery solutions andcharging systems, including large-scale infrastructure projects.

The company's development plan also includes theexpansion ofits product range into other segments, inparticular theintercity market. Over thenext fewyears, Solaris will introduce anew zero-emission intercity platform inthree different lengths: 10.9, 12.2 and13 meters. Itis worth noting that each ofthese models will beavailable asboth battery andhydrogen vehicles.​ Indeveloping this segment, Solaris will certainly benefit from theexperience gained with the15-metre LowEntry (LE) model, which will belaunched in2020.

In 2023, Solaris hasalso taken thestrategic decision toenter theNorth American market with itsown brand. Themanufacturer's offering forthe American market will consist exclusively ofzero-emission vehicles. Thefirst step towards this goal wasthe testing ofthe Trollino 12 trolleybus inCanada. InAugust last year, Solaris presented thevehicle inVancouver andreceived very positive feedback from local operators. Thetests provided theNorth American authorities with anopportunity tofamiliarize themselves with Solaris's flagship product andto gather valuable feedback. During apress conference, Solaris presented forthe first time avisualization ofthe vehicle dedicated tothe American market, with commercial availability planned for2026.