VANCOUVER, BC, Oct. 30, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower" or the "Company"), a leading manufacturer and distributor of purpose-built, allelectric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the closing of its previously announced public offering of 3,000,000 of its common shares at a public offering price of U.S. $1.00 per share, for gross proceeds ...

VANCOUVER, BC, Oct. 28, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower" or the "Company"), a leading manufacturer and distributor of purpose-built, allelectric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the pricing of its underwritten public offering of 3,000,000 shares of its common stock at a public offering price of U.S. $1.00 per share, for gross proceeds o ...

LOS ANGELES, Oct. 28, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower", or the "Company"), a leading manufacturer and distributor of purpose-built, all-electric, 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 intends to offer to sell its common shares (and/or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof) in an underwritten public offering. All ...

"EPA has previously awarded $18.5 million to purchase 50 GreenPower all-electric school buses and provide for the charging infrastructure associated with these purpose-built EVs," said GreenPower President Brendan Riley. He noted the increase from the original 47 school buses announced by the EPA in January to the 50 school buses in the order is because Monongalia County School District is required to pay an additional $550,000 from its own school bus replenishment funds since the county is defined as non-p ...

SOUTH CHARLESTON, W.Va., Oct. 16, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of purpose-built, allelectric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported that it has delivered four all-electric, purpose-built, zeroemission school buses in Arizona, California and West Virginia in the first half of the month and announced ...

Core Points - GreenPower Motor Company has received an order for 10 EV Star Passenger Vans from Washington University in St. Louis for student transportation on campus [1][2] - The EV Star Passenger Vans are equipped with rear ADA BraunAbility lifts, Q'STRAINT wheelchair securements, and front-end bike racks to enhance mobility options for students [2][4] - This order marks the second purchase from Washington University, which previously utilized five EV Star Passenger Vans for over two years [3] Company Overview - GreenPower Motor Company specializes in manufacturing and distributing all-electric, zero-emission medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [5] - The company employs a clean-sheet design approach to create purpose-built electric vehicles, integrating global suppliers for key components [5] - GreenPower was founded in Vancouver, Canada, and has operational facilities in southern California, with its U.S. IPO and NASDAQ listing completed in August 2020 [5] Product Features - The EV Star Passenger Van has a range of up to 150 miles and features dual charging capabilities as standard [3] - It is designed for versatility in configuration and carrying capacity, making it a leader in the shuttle and transit space [3] - The vehicle includes an electric bus door for easy accessibility, enhancing the overall user experience [3]

PHOENIX, Ariz., Sept. 18, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it has received a series of orders for six GreenPower all-electric, purpose-built, zeroemission school buses from its Arizona dealer RWC Group. The school buses, funded under ...

Financial Data and Key Metrics Changes - For the three months ended June 30, 2024, GreenPower generated revenue of $3 million with a cost of sales of $2.8 million, resulting in a gross profit of approximately $222,000 [16] - The lower-than-anticipated gross profit margin was primarily due to overhead costs incurred from limited throughput in West Virginia and lower realized gross profit margins on prior model year inventory [16] - The company ended the quarter with nearly $14 million in working capital, including $33.7 million in inventory, of which $13.4 million was finished goods [17] Business Line Data and Key Metrics Changes - The sales pipeline for GreenPower's all-electric commercial vehicles has seen a significant uptick, including 28 specialty vehicles for deployment in Canada and over 20 EV Star passenger vans and Cargo Plus vehicles [5][6] - The company has more than 30 all-electric purpose-built school buses slated for delivery in California and Oregon over the next 90 to 120 days, complementing previous orders for the East Coast [9] Market Data and Key Metrics Changes - California has introduced legislation requiring roughly 10% of new purchases of Class 4 vehicles by fleet operators to be zero emission, which will increase to 75% over the next 10 years, creating a multibillion-dollar annual market opportunity for GreenPower [7] - The number of EV OEMs with medium-duty Class 4 all-electric offerings has been dwindling, indicating a favorable supply/demand dynamic for GreenPower [7] Company Strategy and Development Direction - GreenPower's go-to-market strategy includes both horizontal and vertical markets, focusing on medium-duty Class 4 vehicles and school buses [6] - The company is positioned to take advantage of state and federal incentives, with over $8 billion available for the transition to all-electric school buses [10] Management's Comments on Operating Environment and Future Outlook - Management noted that despite earlier market slowdowns due to regulatory uncertainties and global economic factors, demand for all-electric vehicles is rebounding with significant growth potential [4] - The company anticipates a step-up in revenue from the most recent quarter through each of the remaining quarters in the fiscal year [4][31] Other Important Information - GreenPower has received various subsidies in West Virginia, including training subsidies for employees and tax incentives, which will support production increases [24][27] - The company has been actively involved in discussions and presentations regarding EV school bus deployment and the transition to zero-emission vehicles [11][12] Q&A Session Summary Question: Update on the book of orders in hand - Management indicated that follow-on orders exist for many specialty vehicles and passenger vans, which may not yet be at the top of the sales pipeline due to the need for initial deliveries [19][21] Question: Natural margin for products - Traditionally, gross profit margins have been in the high teens, and management expects margins to improve as throughput increases in the West Virginia facility [21] Question: Availability of subsidies in West Virginia - Management confirmed that numerous subsidies are available in West Virginia, including training subsidies and tax incentives, which will support production [24][27] Question: Status of finished vehicles and inventory - The largest category of finished goods inventory is the EV Star Cab & Chassis, with over 40 EV Stars of various types, including secondhand vehicles [23] Question: Availability of liquidity - The company confirmed approximately $2 million in available liquidity on the EDC facility at the end of the quarter [29]

LOS ANGELES, Aug. 15, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it will deliver five Type D BEAST all-electric, purpose-built, zero-emission school buses to two school districts in California this week. GreenPower will deliver five all-electr ...

GreenPower Motor Company Inc. (GP) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.70%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.27, delivering a surprise of -68.75%. Over the last four quarters, the compan ...