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GreenPower Motor Company Inc. designs, builds and distributes all-electric medium- and heavy-duty vehicles for cargo and delivery, shuttle, transit and school bus markets. Its product references include high-floor and low-floor transit buses, school buses, shuttles, cargo vans and cab-and-chassis platforms built around a purpose-built electric OEM design.
GreenPower news commonly covers operating and financial results, vehicle production strategy, customer-order activity, financing facilities, convertible preferred share transactions, Nasdaq listing compliance, auditor and board changes, annual meeting results and other governance matters tied to its public-company status.
GreenPower Motor Company (NASDAQ: GP) announced successful results from the first round of its all-electric school bus pilot project in West Virginia. Over six weeks, three BEAST school buses covered more than 5,400 miles, showcasing zero emissions while transporting students safely. The buses achieved battery consumption rates of 1.1 to 1.5 miles per percent of State of Charge, providing 110 to 150 miles on a full charge. Feedback from drivers and school officials was positive, highlighting the vehicles' performance and handling. Round 2 of the project has commenced in additional counties.
GreenPower Motor Company Inc. (Nasdaq: GP) has appointed BDO Canada LLP as its new auditor, effective November 23, 2022. This change comes as a result of the Board and Audit Committee's decision to replace the former auditor, Crowe MacKay LLP, which provided satisfactory services without any modified opinions on the company's financial statements. GreenPower specializes in manufacturing zero-emission electric vehicles, catering to various markets including transit and school buses.
GreenPower Motor Company (Nasdaq: GP) announced record revenues of $7,726,461 for the second quarter ended September 30, 2022, a 67% increase from $4,629,371 in the previous year. The company delivered 57 vehicles and expanded its operations with a new facility in West Virginia. They launched a pilot project for all-electric school buses and have plans to meet demand from the EPA's Clean School Bus Program. Despite growth, gross profit margins faced short-term compression due to new vehicle deliveries.
GreenPower Motor Company (NASDAQ: GP) announced a new listing of vehicles eligible for funding under the Volkswagen Trust Fund by the San Joaquin Valley Air Pollution Control District. These grant opportunities can cover up to 100% of the purchase price for various GreenPower electric buses, including the EV Star Min-eBus and BEAST Type D School Bus. Funding amounts reach up to $400,000 for school buses and $180,000 for transit buses, aimed at replacing internal combustion engine buses. The grant program opened on October 31, 2022, on a first-come, first-served basis.
GreenPower Motor Company (NASDAQ: GP) announced the deployment of the first purpose-built Type A all-electric, ADA-compliant school bus in the U.S., set to begin operation in Clay County, West Virginia on November 4, 2022. The Nano BEAST, equipped with advanced features like a class-leading range of 150 miles and dual-port charging, aims to enhance accessibility and safety for students. GreenPower's innovative design positions it as a leader in the electric vehicle sector, underlining its commitment to zero-emission transportation solutions.
GreenPower Motor Company (NASDAQ: GP) announced a conference call on November 15, 2022, at 6:30 a.m. PT to discuss its second-quarter financial results for the period ending September 30, 2022. The call aims to provide an update on business performance. Participants can join by calling the provided numbers, and a replay will be available shortly after. The company specializes in manufacturing electric vehicles for various sectors, highlighting its commitment to zero-emission transportation solutions.
GreenPower Motor Company (NASDAQ: GP) has launched the second round of its all-electric school bus pilot project in West Virginia. This phase involves deploying three Type D BEAST buses and a Type A Nano BEAST with ADA capabilities across four school districts: Grant, Monongalia, Ohio, and Clay. This pilot will address new terrains and colder climates, collecting data on performance, charging needs, and community acceptance. The initiative aims to demonstrate the transition from diesel to electric buses, enhancing health and safety in schools.
GreenPower Motor Company (NASDAQ: GP) has welcomed the EPA's announcement regarding nearly $1 billion in funding for zero-emission school buses. This is part of the $5 billion Clean School Bus Program established by the Bipartisan Infrastructure Law. The GreenPower BEAST bus can receive $375,000 in grants, while the Nano BEAST qualifies for $285,000. Additionally, each purchase will earn an extra $20,000 for charging infrastructure. This initiative aims to replace diesel buses, significantly reducing air pollutants affecting children's health.
GreenPower Motor Company (NASDAQ: GP) announced securing 85 additional vouchers under California's HVIP program for their EV Star line, including 75 cargo vans and box trucks. This quarter, 15 EV Stars have been delivered, with plans for 55 more deliveries. The California HVIP and New Jersey ZIP programs incentivize zero-emission vehicle adoption, addressing barriers like high costs. Notably, the New Jersey program recently received $45 million in funding, expanding to heavy-duty vehicles. GreenPower's EV Star platform boasts a 150-mile range and can support various delivery needs.
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