VANCOUVER, BC, May 6, 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 it has commenced an underwritten public offering in the United States (the "Offering"). The Offering consists of common shares and warrants to purchase common sh ...

"The addition of the EV Star Utility Truck to GreenPower's already robust all-electric commercial vehicle lineup offers our commercial fleet customers another zero-emission solution to fulfill their demands," said Brendan Riley, President of GreenPower. "GreenPower's expertise fuels our innovation, propelling the all-electric commercial vehicle industry forward to meet growing demand for safe, sensible and sustainable fleets." GreenPower's EV Star Utility Truck is purpose-built and fully customizable to fit ...

"We are pleased to have Paul Start join GreenPower to lead our school bus team," said GreenPower President Brendan Riley. "His extensive experience in the school bus industry will help support GreenPower's existing sales and create new opportunities for our all-electric, purpose-built, zero-emission school buses suite of products." Paul brings more than 35 years of school bus expertise in North America to the team at GreenPower. Most recently he served as the Dealer Development Manager for Thomas Built Buse ...

The NAFA Institute & Expo is the largest gathering of fleet and mobility professionals, drawing subject matter experts and professionals from around the globe representing all fleet segments to engage and explore the latest products, services and resources offered by top industry suppliers. NAFA attendees are invited to visit GreenPower's booth #440 to learn about the Company's all-electric, purpose-built, zero-emission commercial vehicle offerings. In addition to product demonstrations and discussions with ...

"GreenPower is proud to offer all-electric, purpose-built fleet solutions and work alongside Piedmont Truck Center, Matthews Specialty Vehicles and the North Carolina Clean Energy Technology Center to bring our EV Star products to North Carolina," said Claus Tritt, GreenPower's Vice President of Medium-Duty and Commercial Vehicle Sales. "Through Piedmont Truck Center and Matthews Specialty Vehicles' unique upfit solutions, customers can secure GreenPower's all-electric vehicles to fit a range of application ...

"GreenPower is currently manufacturing all-electric, purpose-built school buses purchased by the state of West Virginia in its South Charleston plant," said Fraser Atkinson, CEO of GreenPower. "Following behind that production are the school buses awarded to seven school districts in West Virginia under Round 2 of the EPA's Clean School Bus Program." School buses for other eastern markets like New York, Maryland, Pennsylvania and Virginia, and western markets like Arizona, California, Colorado, Nevada and O ...

LOS ANGELES, April 9, 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, is pleased to invite investors to a webinar on April 17, 2024 at 4:15 p.m. EDT/1:15 p.m. PDT. The exclusive event, hosted by RedChip Companies, will feature GreenPower's CEO Fraser Atkinson who ...

Financial Data and Key Metrics Changes - For Q3 2024, GreenPower generated revenue of $8.2 million, a decline of 36.3% from $12.8 million in the same quarter last year, primarily due to a decrease in vehicle sales [20] - Gross profit was $1.4 million with a gross profit margin of 16.6%, down from $2.2 million and 17.4% in the prior year's quarter, mainly due to an inventory write-down of $408,000 [21] - For the nine months ended December 31, 2023, revenue increased by 40.1% to $34.2 million from $24.4 million, driven by the sale of 196 vehicles [22] - The company reported a loss of $4.6 million for the quarter, compared to a loss of $3.4 million in the same quarter last year [21] Business Line Data and Key Metrics Changes - The School Bus group delivered 4 Type A Nano BEAST school buses and began production of Type D BEAST school buses, with live orders for 102 buses [9][10][11] - The Commercial Vehicle division delivered 10 EV Star Cab and Chassis, but is behind the School Bus group in terms of order book [12][13] Market Data and Key Metrics Changes - The company has a qualified sales pipeline for 164 GreenPower school buses, indicating strong demand in the market [11] - The introduction of the Mega BEAST school bus, which offers a range of up to 300 miles, has received immediate market response with an order for 25 units from a California dealer [27][28] Company Strategy and Development Direction - GreenPower is shifting from fulfilling orders from inventory to manufacturing vehicles based on customer orders, supported by a new revolving loan agreement for production financing [15][18] - The company aims to leverage new and existing incentive programs to drive growth in both the School Bus and Commercial Vehicle segments [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the production ramp-up but expressed confidence in meeting future demand as production capabilities increase [36] - The company expects to see improvements in gross margins as training and production processes stabilize [61][62] Other Important Information - As of December 31, 2023, GreenPower had cash of $4 million, an increase of $3.4 million since the beginning of the year, attributed to higher sales and improved collections [24] - The company secured a $5 million production financing facility from Export Development Canada, enhancing its manufacturing capabilities [18][77] Q&A Session Summary Question: Production ramp and delivery profile for BEAST buses - Management indicated that they need to complete a full production cycle for the BEAST before better visibility on throughput can be established [34][36] Question: Inventory management and cash conversion - Management plans to continue utilizing existing finished goods while transitioning to a build-to-order model, which is expected to improve cash conversion [41] Question: Charging infrastructure for school buses - Management noted that the availability of charging infrastructure is a significant factor affecting deployment, and the Nano BEAST offers more flexibility in charging options [45][47] Question: Working capital and inventory alignment - Management stated that work in process is well aligned with production flow, but finished goods still need adjustment to match sales [54][56] Question: Gross margins and production costs - Management acknowledged that early production of new models incurs higher costs, but margins are expected to improve as production stabilizes [60][62]

Company Participants Good day, and welcome to GreenPower First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After todayâs presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. GreenPower Motor Company Inc. (NASDAQ:GP) Q1 2024 Earnings Call Transcript August 14, 2023 9:30 AM ET Craig Irwin - ROTH MKM Greg Lewis - BTIG Tate Sullivan - Maxim Group I'd like to turn the conference over to Mr. Mic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SE ...