GreenPower Mtr Co Inc Stock Price, News & Analysis

GreenPower Motor Company (NASDAQ: GP) has announced the launch of Round 4 of its pilot project for all-electric school buses in four West Virginia school districts: Mineral, Lewis, Harrison, and Upshur. This initiative will deploy three Type D BEAST buses and one Nano BEAST bus, aiming to evaluate their performance in rural, mountainous conditions during colder temperatures. Notably, the pilot will assess advanced Level 2 charging options, which offer superior rates compared to conventional chargers. CEO Fraser Atkinson emphasizes the project’s goal to provide healthier transportation solutions for students. The project follows the successful pilot programs in previous districts.

GreenPower Motor Company (NASDAQ: GP) will present at the Gravitas 6th Annual Growth Conference on March 2, 2023, in Vancouver, Canada. CEO Fraser Atkinson is set to speak at 11:40 AM PST, highlighting recent milestones, including record revenues and deliveries for the quarter ending December 31, 2022. The conference runs from 8:30 AM to 4:20 PM PST, featuring presentations, Q&A sessions, and individual investor meetings. GreenPower specializes in all-electric, zero-emission vehicles for various markets, including cargo, transit, and school buses, and has seen significant growth in its dealer network. Individual meetings can be arranged via the provided registration link.

GreenPower Motor Company Inc. (NASDAQ: GP) has become a qualified manufacturer for the commercial clean vehicle credit under the Inflation Reduction Act. This credit allows businesses to receive up to $40,000 for electric vehicles over 14,000 pounds GVWR and $7,500 for those under 14,000 pounds, with no cap on the number of claims. The incentive aims to boost EV adoption and support domestic production. Brendan Riley, President of GreenPower, noted that these credits will make all-electric vehicles more economically attractive compared to internal combustion engine units.

GreenPower Motor Company (NASDAQ: GP) has appointed New England Truck Solutions (NETS) as a dealer for its medium and heavy-duty all-electric commercial vehicles in the Boston and Rhode Island markets. This partnership allows NETS, which services class 4 through 8 vehicles, to offer GreenPower's EV Star, EV Star Cab and Chassis, and EV Star Cargo vehicles, targeting small to midsize businesses in need of cost-effective electrification for middle and last-mile delivery.

GreenPower aims to enhance customer education and facilitate commercial EV ownership through this collaboration, expanding its reach in the East Coast market.

On February 14, 2023, GreenPower Motor Company (NASDAQ: GP) announced the granting of 420,000 incentive stock options to its Directors and Officers, along with 225,000 options for employees and 15,000 options for a consultant. These stock options, pending TSX Venture Exchange approval, are exercisable for five years at CDN $3.80 per share. Vesting schedules differ: for Directors, 25% vest after four, six, nine months, and the final 25% after one year; for employees, 25% vest after four months, with subsequent increments after one, two, and three years.

GreenPower Motor Company (Nasdaq: GP) announced record-breaking revenues and deliveries for its third quarter ended December 31, 2022.

The company reported revenues of $12.8 million, marking a 140% increase compared to the previous year, with 101 vehicles delivered, including the first Nano BEAST school bus.

Deferred revenue stood at $12 million, projecting further growth in the next year. GreenPower's inventory increased to $46.2 million, with over $34 million in finished goods aimed at fulfilling current orders. The company raised $3.5 million from its equity program to support production and development.

GreenPower Motor Company (NASDAQ: GP) has announced a conference call scheduled for February 14, 2023, at 6:30 a.m. PT / 9:30 a.m. ET. The call aims to provide shareholders and interested parties with a business update and discuss the financial results for the third quarter ending December 31, 2022. Participants can dial in using the provided numbers, and a replay will be available shortly after the call. GreenPower designs and manufactures a range of all-electric vehicles for various sectors, including transit and cargo, emphasizing zero-emission technology.

GreenPower Motor Company (NASDAQ: GP) has appointed K. Neal International Trucks as its exclusive dealer for all-electric Type D BEAST and Type A Nano BEAST school buses in Maryland and Washington D.C. This partnership is strategically aligned with the region's 8,000 operational school buses and the push towards electric alternatives, supported by the EPA Clean School Bus Program. K. Neal is recognized for excellence in customer support and has agreed to purchase units for demonstrations. GreenPower's Nano BEAST features leading specifications, including a range of 150 miles, and the BEAST supports up to 90 passengers.

GreenPower Motor Company (NASDAQ: GP) announced a record delivery of 101 electric vehicles in Q3 2022, marking a significant rise from previous quarters. The majority were EV Star models and the Nano BEAST Type A school bus. CEO Fraser Atkinson noted a growing order backlog of 2,000 vehicles, supported by firm contracts and government funding. Additionally, GreenPower completed the second phase of a school bus pilot project with positive performance results. The company reported issuing 458,404 common shares at an average price of $2.40, generating net proceeds of approximately $1.07 million.