All-electric school bus pilot gearing up in New Mexico
Rhea-AI Summary
GreenPower Motor Company (NASDAQ: GP) has launched the New Mexico All-Electric, Zero-Emission School Bus Pilot Project in partnership with the New Mexico Economic Development Department. The two-year pilot will initially deploy three Type A Nano BEAST electric school buses in Las Vegas public schools and Santa Fe charter school during 2025-26, followed by two Type D BEAST and one Mega BEAST buses in 2026-27.
The state has committed $5 million in capital outlay for the initial pilot, with a potential additional $15 million following successful completion. The Nano BEAST features a 118 kWh battery pack with up to 140-mile range and can accommodate 24 passengers. The pilot supports New Mexico's Energy Transition Act, aiming for 100% zero-carbon electricity by 2045.
Positive
- Secured $5 million state funding with potential for additional $15 million after successful pilot
- Strategic partnership with New Mexico government supports expansion into public sector
- Pilot program could lead to broader fleet deployment in Department of Transportation and General Services
- Project aligns with state's zero-carbon electricity goals, positioning for future growth
Negative
- Project success dependent on two-year pilot performance metrics
- Implementation requires significant infrastructure and training investment
- Limited initial deployment of only three buses in first phase
News Market Reaction – GP
On the day this news was published, GP declined 1.28%, reflecting a mild negative market reaction. Argus tracked a peak move of +16.9% during that session. Argus tracked a trough of -13.5% from its starting point during tracking. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $145K from the company's valuation, bringing the market cap to $11M at that time.
Data tracked by StockTitan Argus on the day of publication.
State and GreenPower announce electric school bus pilot in
Governor Michelle Lujan Grisham
EDD Cabinet Secretary Rob Black
EDD Deputy Cabinet Secretary Isaac Romero
GreenPower President Brendan Riley
GreenPower CEO Fraser Atkinson
GreenPower (NASDAQ: GP) (TSXV: GPV), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space, and school bus sector, today announced the launch of the New Mexico All-Electric, Purpose-Built, Zero-Emission School Bus Pilot Project with deployments of the Type A Nano BEAST at the
"GreenPower is pleased to begin this two-year pilot project with the
GreenPower entered into an MOU with the State of New Mexico to assess the viability and reliability of fast charging in various environments and circumstances. The school districts' participation in the pilot is voluntary, and the state has agreed to support the program with
The 2-year pilot program supports
According to the MOU, after two successful pilot phases, EDD will support an additional
The two-year pilot project will deploy three GreenPower Type A all-electric, purpose-built, zero-emission school buses in the first school year (2025-26), and two GreenPower Type D all-electric, purpose-built, zero-emission BEAST school buses and one Mega BEAST school bus in the second school year (2026-27). The school buses will rotate around the state for five pilot rounds each school year, with each round lasting six weeks. GreenPower will install charging systems through its Pilot Project partnership with Highland Electric Fleets, provide training for drivers, mechanics, and the community's first responders, and track telematics through a partnership with Geotab. GreenPower will provide a detailed report to the state at the end of each school year.
"Among some of the data that will be collected is range, charging infrastructure needs, handling and maneuverability, operating and maintenance savings, student and parent acceptance, and more," said GreenPower CEO Fraser Atkinson. "The data will help with the idea of change as schools look to create a new beginning of a clean, healthy school day."
"As we transition towards a more flexible, diversified, and environmentally sustainable economy, we are dedicated to achieving carbon-free power," stated Rob Black, cabinet secretary of EDD. "This is also an opportunity to introduce young students to alternative energy sources. The steps we take today will not only promote a greener future but also inspire a new generation of environmental stewards."
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"We have been looking at grant opportunities to begin migrating from diesel to all-electric school buses for the past couple of years," said Christopher Gutierrez, superintendent at
"Our charter school is always searching for new, innovative ways to serve our students and communities," said Dr. Zoe Nelson, head learner for Monte del Sol Charter School. "We are honored to have been chosen to participate in the state's all-electric school bus pilot program. Our school believes in safe, sustainable, and sensible alternatives, and I cannot wait to see the multitude of benefits this investment will yield for the deserving children of the Land of Enchantment."
About the Nano BEAST
The Nano BEAST has a standard 118 kWh battery pack and a range of up to 140 miles. Configured for up to 24 passengers, it features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium. The Nano BEAST is built on the EV Star Cab & Chassis which is the same platform as the EV Star Passenger Van that passed the FTA Altoona Bus Testing program with one of the highest scores ever achieved. The dual port charging is standard, with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW. Nano BEAST Access has seating for up to 20 ambulatory passengers and up to 3+ Q'STRAINT wheelchair securements, complemented with a BraunAbility rear curbside lift.
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in
Media Contacts:
Mark Nestlen
Project Manager, GreenPower
405-850-9571
barnonemark@gmail.com
Chris Chaffin
Director of Communications, State of New Mexico EDD
505-490-7962
chris.chaffin@edd.nm.gov
Fraser Atkinson
CEO, GreenPower
fraser@greenpowermotor.com
Brendan Riley
President, GreenPower
brendan@greenpowermotor.com
Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors, including those set forth in other public filings (filed under the Company's profile on www.sedarplus.ca or www.sec.gov)could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in
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SOURCE GreenPower Motor Company
FAQ
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