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) 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.
GreenPower Motor Company (Nasdaq: GP) reported its fiscal Q1 2021 results, ending June 30, 2020, highlighting $2.27 million in revenue and a gross profit margin of 27.2%. The quarter saw the delivery of 18 EV Stars and deployment of 8 EV Stars for Antelope Valley Transit. Following the quarter, GreenPower traded on Nasdaq and received orders for 100 EV Stars and 10 school buses. However, the company experienced an operating loss of $875,145, leading to a net loss of $1,429,337 due to high operational costs and interest expenses.
GreenPower Motor Company (Nasdaq: GP) will hold a conference call on August 31, 2020, at 2:00 p.m. PST to discuss its financial results for the fiscal first quarter ended June 30, 2020. The call will provide an operational update for shareholders and interested parties. Participants can access the call via various dial-ins, with a replay available shortly after. GreenPower is focused on designing and distributing electric-powered buses for multiple sectors, emphasizing zero emissions and high-quality components from global suppliers.