GreenPower Mtr Co Inc Stock Price, News & Analysis

GreenPower Motor Company Inc. (Nasdaq: GP) announced the grant of 300,000 incentive stock options to key executives, each receiving 100,000 options. These options will be exercisable at $20 per share for five years, pending TSX Venture Exchange approval. The vesting schedule includes 25% vesting four months after the grant, with subsequent tranches vesting annually over three years. GreenPower focuses on manufacturing zero-emissions electric vehicles for various markets, including transit and cargo.

GreenPower Motor Company (NASDAQ:GP) announced the sale of six electric school buses to Thermalito Union Elementary School District via Creative Bus Sales. The B.E.A.S.T. buses have a range of up to 150 miles, supported by a 194.5kWh battery pack. Funding for one bus comes from Butte County's clean vehicle incentive program, while five buses are financed through the California Clean Energy Jobs Act, which has awarded over $1.7 billion for zero-emission transport. This sale exemplifies GreenPower's strategy to leverage multiple incentive programs as the transition to electric vehicles accelerates.

GreenPower Motor Company (Nasdaq:GP) reported its fiscal Q2 2021 results, highlighting a revenue of $2.8 million and a gross profit margin of 31.2%. The company completed its uplisting to Nasdaq, raising $37.7 million. Key achievements included the delivery of 21 buses, increased production capabilities, and a backlog of orders for 110 vehicles. The potential revenue from upcoming deliveries could exceed $13 million per quarter. Despite these gains, the company reported a net loss of $1.5 million for the quarter.

GreenPower Motor Company Inc. (Nasdaq: GP) announced a conference call scheduled for November 12, 2020, at 2:00 p.m. PST to discuss its financial results for the fiscal second quarter ended September 30, 2020. The call will provide a business update for shareholders and interested parties. Participants can access the call via specified dial-in numbers, and a replay will be available afterward. GreenPower specializes in electric vehicles for various sectors, emphasizing zero emissions with a clean-sheet design approach.

GreenPower Motor Company (NASDAQ: GP) announced CEO Fraser Atkinson's participation in the Building the Electric Vehicle Future webinar on October 22, 2020, organized by Maxim Group LLC and M-Vest. The event will feature a panel discussion where industry experts will explore long-term growth opportunities within the electric vehicle sector. Participants are encouraged to ask questions directly to Atkinson, who is leading GreenPower in the zero-emission vehicle market.

Webinar Date and Time: October 22, 11 AM Eastern Time.

GreenPower Motor Company (NASDAQ: GP) has announced a dealership agreement with ABC Bus, Inc. to deliver 100 zero-emission vehicles over the next 36 months in New York. Initial deliveries are set to start within 30 days. This partnership will leverage various state funding programs, potentially offering incentives of up to $100,000 for Class 4 electric trucks and $90,000 for electric school and shuttle buses. The agreement aligns with New York's goal of carbon neutrality by 2050, positioning GreenPower to expand its market presence significantly.

On September 25, 2020, GreenPower Motor Company (NASDAQ: GP) announced its EV Star has been selected for a contract under CalACT and MBTA for zero-emission shuttles, allowing the purchase of up to 150 vehicles annually. GreenPower is one of four dealers qualified for this contract, providing a rapid procurement solution for transit authorities. The EV Star is notable for passing Altoona testing and adhering to Buy America Compliance. Additionally, California's recent executive order mandating a shift to zero-emission vehicles by 2045 may significantly boost EV adoption.

GreenPower Motor Company (NASDAQ: GP) announced the delivery of 20 additional EV Stars to Green Commuter, expanding its zero-emission vehicle fleet. This delivery is part of a larger order totaling 203 EV Stars, with 71 already delivered. Green Commuter leverages California's HVIP vouchers, enhancing vehicle affordability while promoting environmental sustainability. The EV Star offers flexible charging options and is eligible for a $90,000 base voucher under HVIP, with an additional $10,000 for operations in disadvantaged communities.

GreenPower Motor Company (NASDAQ: GP) has successfully closed its upsized U.S. initial public offering, selling 1,860,000 common shares at US$20.00 each, raising gross proceeds of approximately US$37.2 million. The shares began trading on August 28, 2020. The company aims to utilize the net proceeds for the production of all-electric vehicles, product development, and geographic expansion. In connection with the offering, a consolidation of shares occurred, changing the ratio to one post-consolidation share for every seven pre-consolidation shares. A related party private placement also took place, raising an additional US$500,000.