GreenPower Motor Co(US:GP) Prnewswire·2026-01-09 14:00Core Viewpoint - GreenPower Motor Company has announced plans to establish a manufacturing facility in New Mexico, citing the state's electric vehicle ecosystem, financial incentives, and the Santa Teresa Foreign Trade Zone designation as key factors for this decision [1][2][3]. Group 1: Company Overview - GreenPower Motor Company is a manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles, targeting the cargo, delivery, shuttle, transit, and school bus markets [1][6]. - The company employs a clean-sheet design approach to manufacture vehicles that are battery-powered and zero-emission, integrating global suppliers for key components [6]. Group 2: Economic Impact - The establishment of the new facility is expected to create 340 permanent jobs in Santa Teresa, contributing to local economic development and cleaner air [2][3]. - The state of New Mexico has committed a strategic investment of $14.6 million in financial incentives to support the facility's establishment, which includes $5 million from the New Mexico Local Economic Development Act (LEDA) [3]. Group 3: Strategic Location and Benefits - The Santa Teresa Borderplex is a growing economic zone that serves as a key U.S.-Mexico trade hub, enhancing manufacturing, logistics, and advanced technology opportunities [4]. - The Foreign Trade Zone designation allows GreenPower to streamline customs procedures and benefit financially from inventory, parts, and distribution, reducing tariff uncertainties [5]. Group 4: State Initiatives - New Mexico has implemented policies to promote the adoption of zero-emission vehicles, including contracts to electrify over 5,000 state fleet vehicles and significant investments in EV infrastructure [2][3]. - The state's "Electrify New Mexico" initiative aims to support the electrification of more than 2,000 school buses and 3,500 state transit vehicles, aligning with GreenPower's goals [2][3].