Welcome to our dedicated page for GreenPower Mtr news (Ticker: GP), a resource for investors and traders seeking the latest updates and insights on GreenPower Mtr stock.
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) held its Annual General and Special Meeting on May 18, 2021, where shareholders elected all management nominees to the board, including Mark Achtemichuk and Fraser Atkinson. The meeting also saw the approval of the stock option plan and the appointment of Crowe MacKay LLP as auditors for the upcoming fiscal year. Post-meeting, 173,650 stock options were granted to employees at a price of CDN $19.62 per share, vesting over four years. GreenPower specializes in all-electric vehicles designed for zero emissions.
GreenPower Motor Company (NASDAQ: GP) announced that its entire EV Star lineup is now eligible for the New Jersey Zero Emission Incentive Program (NJ ZIP), which offers up to $100,000 in incentives for zero-emission vehicle purchases. NJ ZIP has a budget of $15 million and aims to reduce harmful emissions in Newark and Camden areas. Brendan Riley, President of GreenPower, noted the state's strong commitment to zero emissions, while Ryne Shetterly, VP of Sales and Marketing, anticipates a positive impact on vehicle sales due to these incentives.
GreenPower Motor Company (NASDAQ: GP) has announced an order for four wirelessly charged EV Stars from Grant Transit in Washington, funded by the FTA's $180 million Low-No Program. This marks the first deployment of Momentum Dynamics' wireless charging system in the region. The vehicles will serve the Moses Lake area starting in fall 2021, demonstrating GreenPower's outreach success beyond California. The company completed a Buy America compliance audit for this order, positioning itself advantageously to leverage federal funding.
GreenPower Motor Company (NASDAQ: GP) has secured an order for four wirelessly charged, FTA Buy America compliant EV Stars from Grant Transit Authority in Washington. Funding for the $180 million program will support this purchase. This order marks GreenPower's expansion beyond California, showcasing its market outreach and commitment to zero-emission vehicles. The EV Stars will utilize Momentum Dynamics' wireless charging system, promoting efficient energy use. GreenPower aims to leverage federal funding to meet the growing demand for electric vehicles as the economy recovers.
GreenPower Motor Company Inc. (NASDAQ: GP) announced its investor conference roadshow schedule for March 2021, highlighting its partnership with Forest River and initiatives for all-electric school buses. Key events include participation in the B Riley Securities Sustainable Energy & Technology Conference from March 9-10, the Cowen Mobility Disruption Conference from March 10-12, the Roth Capital Partners Conference from March 15-17, and the Maxim Emerging Growth Conference from March 17-19. The company specializes in zero-emission electric vehicles, aiming to revolutionize the medium and heavy-duty vehicle sector.
GreenPower Motor Company (NASDAQ: GP) has received an order for 30 EV Stars from Zeem Solutions, a provider of e-mobility logistics. This order includes various seating configurations, including wheelchair-accessible units. The EV Stars, previously leased to Green Commuter, are designed to support fleet operations with zero-emission solutions. Brendan Riley, President of GreenPower, emphasized Zeem's growth amid rising market demand. The EV Star platform features six models tailored for cargo and micro transit, and boasts a versatile charging system for operational flexibility.
GreenPower Motor Company (NASDAQ: GP) announced an exclusive purchase agreement with Forest River, a Berkshire Hathaway company (NYSE: BRK.A), for up to 150 EV Star Cab and Chassis units. The EV Star CC will support Forest River's new zero-emission product line. Initial deliveries include six units this quarter, with the remaining units expected over 36 months. Forest River is a major player in the bus and recreational vehicle markets, boasting over $5 billion in annual revenues and 10,000 employees.
GreenPower Motor Company (Nasdaq: GP) announced its fiscal Q3 2021 results for the period ending December 31, 2020. The company delivered 17 vehicles, generating revenues of $2,398,781 with a gross profit of $909,807 or 37.9% gross margin. GreenPower reported a working capital of $31,310,393 and over $21 million in cash. The company converted $3,243,702 of debentures and reduced loans by $1,973,400. Production of all-electric school buses has increased in response to demand. However, losses amounted to $2,133,106 for the quarter.
GreenPower Motor Company reported financial results for the third quarter ending December 31, 2020, delivering 17 vehicles and generating revenues of $2,398,781, with a gross profit of $909,807 (37.9% margin). Working capital stood at $31,310,393, including over $21 million in cash. The company converted $3,243,702 in debentures and repaid $1,973,400 in loans, lowering future interest costs. Production of school buses increased due to strong demand, while an autonomous AV Star was delivered to Jacksonville Transit Authority.
GreenPower Motor Company (Nasdaq:GP) will host a conference call on February 11, 2021, at 2:00 p.m. PST / 5:00 p.m. ET to discuss its financial results for Q3 of fiscal 2021, ending December 31, 2020. The call aims to provide a business update for shareholders and interested parties. Interested participants can join by dialing the provided numbers or accessing the webcast. GreenPower designs and manufactures electric buses, emphasizing zero emissions and integrating key global suppliers for its components.