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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 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 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) 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 (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.
GreenPower Motor Company (NASDAQ: GP) has reported 17 vehicle deliveries for the quarter ending December 31, 2020, including 15 EV Stars, 1 EV Star +, and 1 EV Star Cargo +. By the close of the quarter, it had 95 vehicles either completed or in production. The company plans to increase monthly production of its all-electric school buses from 5 to 10 due to strong market response. Anticipated delivery increases are expected in late spring and summer 2021 as logistical issues from the pandemic ease. Financial results will be disclosed in February.
GreenPower Motor Company has delivered the first fully autonomous EV Star to the Jacksonville Transportation Authority (JTA) in collaboration with Perrone Robotics. This marks a significant development in zero-emission public transport, as the EV Star is expected to enter service in February 2021. Additionally, GreenPower is building a second unit for a nationwide demonstration tour starting in March 2021. The collaboration underscores the rising demand for autonomous vehicles, positioning GreenPower to explore new markets for automated applications.
GreenPower Motor Company (NASDAQ: GP) announced the delivery of its first EV Star Cargo Plus to the City of Vancouver, aligning with the city's goal to reduce carbon emissions by 50% by 2030. The EV Star Cargo Plus replaces a traditional fossil fuel-powered vehicle and features a payload capacity of over two metric tons. CEO Fraser Atkinson highlighted the vehicle's 240 km range on a single charge and GreenPower's established presence with over 100 EV Stars on the road, positioning the company well to meet growing market demands.
GreenPower Motor Company Inc. (Nasdaq: GP) announced the granting of 20,000 incentive stock options to four outside directors, each receiving 5,000 options. These options, subject to TSX Venture Exchange approval, are exercisable for five years at $20 per share. The vesting schedule includes 25% after three, six, nine, and twelve months. Additionally, annual directors' fees have been set at $25,000 each, with an extra $5,000 for committee chairs.
GreenPower specializes in zero-emission electric vehicles for various markets, employing a sustainable design for its all-electric buses.