Accessibility StatementSkip Navigation LOS ANGELES, Nov. 20, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) ("GreenPower" or the "Company") a leading manufacturer and distributor of all-electric, purpose-built, zero- emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced that it has entered into an agreement whereby more than $6 million in deposits that had been made to GreenPower for the manufacture of ...

Core Insights - GreenPower Motor Company is accelerating production of its all-electric school bus lineup, supported by a financing facility of up to $18 million, which will be deployed in tranches of up to $2 million [1][3] - The company has over $50 million in contracted orders for its Nano BEAST and BEAST school buses, allowing for efficient conversion of backlog into deliveries [3][6] - GreenPower is the only fully electric OEM manufacturing both Class 4 Type A and Class 8 Type D school buses, positioning itself to capture market share as the school transportation sector transitions to zero-emission fleets [3] Financing and Production - The financing facility is designed to optimize cash conversion cycles, enabling the company to align capital deployment with production timing as it scales output [1][6] - More than 130 chassis have already been produced, which positions GreenPower for improved gross margins and a pathway to positive operating cash flow [6] Market Position and Strategy - The company employs a vertically integrated, purpose-built platform strategy, integrating global suppliers for key components to meet various operator specifications [4] - Federal and state incentives are expected to support the transition to zero-emission fleets, benefiting GreenPower's market position [3]

Pursuant to the Financing, the Company has issued the initial tranche of (i) 754 Series A Convertible Preferred Shares pursuant to an effective shelf registration statement (the "Public Offering") and (ii) 425 Series A Convertible Preferred Shares in a concurrent private placement with a total stated value of $1,179,000 and purchase price of $1,120,050 with a follow-on tranche of 926 Series A Convertible Preferred Shares with a stated value of $926,000 and purchase price of $879,700 pursuant to a registrati ...

GREENPOWER MOTOR COMPANY INC. CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS For the Three and Six Months Ended September 30, 2025 and September 30, 2024 (Expressed in US dollars) (Unaudited) GREENPOWER MOTOR COMPANY INC. Consolidated Condensed Interim Financial Statements (Expressed in US Dollars) (Unaudited) September 30, 2025 | Unaudited Consolidated Condensed Interim Statements of Financial Position | 3 | | --- | --- | | Unaudited Consolidated Condensed Interim Statements of Operations and Comprehe ...

Core Viewpoint - GreenPower Motor Company Inc. has announced its decision to voluntarily delist its common shares from the TSX Venture Exchange, effective November 14, 2025, to focus on strategic priorities and operational efficiencies [1][2]. Delisting Reasons - The delisting is influenced by consistently low trading volumes on the TSX Venture Exchange, with less than 2% of the trading volumes compared to NASDAQ for the nine months ended September 30, 2025 [6]. - The company aims to reduce regulatory and compliance costs, allowing for better allocation of resources towards growth initiatives [6]. - This decision aligns with the company's strategy to streamline operations and focus on markets that provide greater shareholder value [6]. Impact on Shareholders - Shareholders' ownership will not be affected by the delisting, as the company will maintain its NASDAQ listing, ensuring continued trading opportunities [2]. - The company will remain a reporting issuer under Canadian securities laws, ensuring transparency and compliance with regulatory requirements [2]. Commitment to Shareholders - GreenPower is dedicated to delivering long-term value to its shareholders, and the delisting reflects its commitment to optimizing operations and focusing on sustainable growth initiatives [4]. Next Steps - The company is collaborating with the Exchange to ensure a smooth transition, and shareholders are encouraged to consult their brokers or financial advisors regarding trading options and account adjustments [3]. Company Overview - GreenPower designs, builds, and distributes a range of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans, with a focus on zero-emission solutions [5]. - The company was founded in Vancouver, Canada, and has primary operational facilities in southern California, having completed its U.S. IPO and NASDAQ listing in August 2020 [5].

Core Insights - GreenPower Motor Company Inc. has announced that its EV Star product line is eligible for up to $130,000 in incentives under the Innovative Small E-Fleet (ISEF) program, which reopens on October 21 with $30.5 million in available incentives [1][2]. Group 1: Product Offerings - GreenPower offers a comprehensive lineup of Class 4 all-electric, purpose-built, zero-emission vehicles, including the EV Star Passenger Van, EV Star Mobility Plus, EV Star Reefer, EV Star Cab & Chassis, EV Star Stakebed Truck, and EV Star Utility Truck [2][3]. - The ISEF program provides small fleet operators (20 or fewer vehicles and under $15 million annual revenue) with vouchers covering up to 90% of new vehicle costs (excluding taxes) for GreenPower's Class 4 EV Star models [2]. Group 2: Funding and Incentives - The ISEF program is designed to support small fleet operators with enhanced vouchers for zero-emission vehicle rentals, leases, and truck-sharing agreements [2]. - Customers interested in accessing up to 90% funding for up to five new commercial zero-emission vehicles must be prepared to act quickly when the ISEF reopens, as funds will be allocated on a first-come, first-served basis [3]. Group 3: Financial Update - GreenPower provided a quarterly update indicating that for the three months ended September 30, 2025, the company issued 77,202 common shares at an average price of $4.63 per share, resulting in gross proceeds of $357,132 [4]. - After paying a cash commission of $10,714 to Roth Capital Partners, the net proceeds from the share issuance amounted to $346,418 [4].

Core Insights - GreenPower Motor Company Inc. and the New Mexico Economic Development Department have launched a two-year pilot project for all-electric, zero-emission school buses in New Mexico [1][2][3] Project Overview - The pilot project will deploy three GreenPower Type A Nano BEAST school buses in the first year and additional buses in the second year, rotating through various schools for six-week rounds [6] - The state has allocated $5 million for the initial phase and plans to support an additional $15 million after successful pilot phases [5][6] Objectives and Goals - The project aims to assess the viability and reliability of all-electric school buses, focusing on performance, charging infrastructure, and community acceptance [3][7] - It aligns with New Mexico's Energy Transition Act, which targets a 100% zero-carbon electricity supply by 2045 [4] Technical Specifications - The Nano BEAST features a 118 kWh battery pack with a range of up to 140 miles and can accommodate up to 24 passengers [9] - Charging capabilities include Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 60 kW [9] Community Engagement - Participation from local school districts is voluntary, with superintendents expressing enthusiasm for the potential benefits of transitioning to electric buses [8][9]

Company Updates - GreenPower Motor Company Inc. has had its shares reinstated for trading on the TSX Venture Exchange after the completion of a review of its annual filings [1] - The British Columbia Securities Commission and the Ontario Securities Commission revoked a cease trade order related to GreenPower's securities on July 31, 2025, which was due to the company's failure to file audited financial statements by the deadline [1] - The cease trade order did not affect trading on the Nasdaq Stock Exchange [1] Financial Information - GreenPower has entered into a revolving loan facility with a credit limit of up to $5 million, with a current outstanding balance of approximately $3.6 million [2] - The loan bears interest at a floating rate of US Prime +5% per annum and has a maturity date of January 26, 2027 [2] - During the year ended March 31, 2025, the company received loans totaling CAD $475,000 from FWP Holdings LLC, USD $250,000 from Koko Financial Services Inc., and CAD $675,000 from 0851433 BC Ltd., with accumulated unpaid interest of approximately CAD $146,000 [3] Related Party Transactions - Loans from FWP Holdings with a principal balance of CAD $3,670,000 matured on March 31, 2023, but the principal remains outstanding, generating accrued and unpaid interest of approximately CAD $440,000 [3] - The company received unsecured, non-interest-bearing advances of $150,000 from Koko and CAD $50,000 from FWP Acquisition Corp., which were repaid during the quarter ended June 30, 2025 [3] - A short-term loan of $125,000 was received from Countryman, a company beneficially owned by a director, which was subsequently repaid [3] Company Overview - GreenPower designs, builds, and distributes a full suite of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [4] - The company employs a clean-sheet design to manufacture vehicles that are purpose-built to be battery-powered with zero emissions [4] - GreenPower was founded in Vancouver, Canada, and has primary operational facilities in southern California [4]

Core Points - GreenPower Motor Company Inc. has received a determination letter from Nasdaq stating it has not regained compliance with listing rules and faces potential delisting [1][2] - The company was notified on February 27, 2025, that its common shares had closed below US$1 for 30 consecutive business days, leading to a compliance deadline of August 26, 2025 [2] - The company is not eligible for a second compliance period due to not meeting the US$5,000,000 minimum stockholders' equity requirement [2] - On August 15, 2025, the company was informed of non-compliance with the Equity Rule and must submit a compliance plan by September 29, 2025 [3] - The company intends to appeal the determination, which will temporarily stay the suspension of its shares pending a decision [4] - If delisted, the company expects its shares to trade on OTC Markets and TSX Venture Exchange [5] Company Overview - GreenPower designs, builds, and distributes all-electric medium and heavy-duty vehicles, including transit buses and cargo vans [6] - The company employs a clean-sheet design for its vehicles, focusing on zero emissions and ease of maintenance [6] - Founded in Vancouver, Canada, GreenPower has primary operational facilities in southern California [6]

Company Overview - GreenPower Motor Company Inc. designs, builds, and distributes a range of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [2] - The company employs a clean-sheet design approach to manufacture vehicles that are purpose-built for battery power with zero emissions, integrating global suppliers for key components [2] - GreenPower was founded in Vancouver, Canada, and has primary operational facilities in southern California [2] Recent Developments - The company has delayed the implementation of its share consolidation from August 28, 2025, to September 8, 2025, which involves a consolidation ratio of one new common share for every ten old common shares [1] - The implementation of the share consolidation is subject to receiving all required approvals from the Nasdaq Stock Exchange [1]