SOUTH
CHARLESTON, W.Va., Oct. 16,
2024 /CNW/ -- 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 reported that it has delivered four all-electric,
purpose-built, zero-emission school buses in Arizona, California and West
Virginia in the first half of the month and announced plans
to deliver 6 more Type D BEAST school buses in California and West
Virginia in the near term.
In West Virginia, GreenPower
delivered the first of the 37 BEAST school buses ordered by the
state to the Wyoming County School
District through GreenPower's dealer. "We have been operating
a GreenPower Type A Nano BEAST Access in our school district and
the experience has been incredible. It has been really nice for our
students who need to be transported with wheelchairs," said
Wyoming County School District
Superintendent John Henry. "We are
excited to now have a Type D BEAST in our fleet and expect the kids
are going to embrace this new clean ride as well."
Three additional BEAST all-electric school buses manufactured at
the company's South Charleston
plant are planned to be delivered in West
Virginia within the next month. Monongalia County School District, who
currently operates one Nano BEAST, one Nano BEAST Access and one
BEAST, will receive these as part of the order from the state of
West Virginia.
In the West, one Type A all-electric, purpose-built,
zero-emission Nano BEAST was delivered by GreenPower's Dealer the
RWC Group to the Joseph City
School District in Arizona and two
BEAST school buses were delivered through GreenPower's Dealer Model
1 to Garden Grove Unified School District in California. Garden
Grove has already deployed four BEAST school buses on their
routes and plan to receive two more by the end of October. One
additional BEAST is expected to be delivered to the Brawley
Elementary School District this month.
"These deliveries along with our current order book show the
continued growth in demand for GreenPower's school bus products,"
said Paul Start, GreenPower's Vice
President of Sales – School Bus Group, noting that the company
currently has 126 live orders of school buses representing more
than $45 million in business. "We
have seen a significant uptick with our sales pipeline as we've
also quoted new orders for more than 180 school buses."
GreenPower's BEAST is a purpose-built 40-foot Type D
all-electric, zero-emission school bus with seating for up to 90
students. Designed from the ground up, it is a unified structure
that features a seamlessly integrated aluminum body made from
extruded aluminum manufactured by Constellium on a high strength
steel Truss (bus) chassis. The complete flat floor design allows
for tracking with no obstacles, and the high floors keep students
out of the crash zone. Dual port charging is standard with Level 2
rates up to 19.2 kW and DC Fast Charging rates up to 85 kW.
The School Transportation News award-winning Nano BEAST has a
standard 118 kWh battery pack and a range of up to 140 miles.
Configured for up to 24 passengers, it features a seamlessly
integrated aluminum body made from extruded aluminum manufactured
by Constellium. The dual port charging is standard, with Level 2
rates up to 19.2 kW and DC Fast Charging rates up to 60 kW.
The Type D BEAST and Type A Nano BEAST are both eligible for
California HVIP vouchers and qualify for grants under the
California Zero-Emission School Bus and Infrastructure (ZESBI)
program. ZESBI grants pair zero-emission (ZE) school bus vehicle
funding offered by the California Air Resources Board (CARB), with
charging infrastructure funding offered by the California Energy
Commission (CEC). A total of $500
million is appropriated by Senate Bill (SB) 114 for ZESBI
for Fiscal Year 2023-24. Of that amount, $375 million is allocated to support the
replacement of old school buses with ZE school buses and
$125 million is allocated to support
complementary infrastructure and associated costs. ZESBI utilizes a
joint application for vehicles and infrastructure. The application
process is open until November 22,
2024.
GreenPower all-electric school buses are also eligible for
federal Clean School Bus Program funds administered by the
EPA. Applications for the current rebate program round, funded at
$965 million, are being accepted
through January 9, 2025.
For the recent quarter ended September
30, 2024 GreenPower delivered 11 BEAST school buses in
California and Oregon and delivered 11 EV Star Cargo Plus, EV
Star Rear ADA and EV Stars.
Contacts:
Fraser
Atkinson, CEO
fraser@greenpowermotor.com
Paul Start, Vice President of
Sales – School Bus Group
paul.s@greenpowermotor.com
Mark Nestlen, Vice President of
Business Development & Strategy
mark.n@greenpowermotor.com
About GreenPower Motor Company, Inc.
GreenPower
designs, builds and distributes a full suite of high-floor and
low-floor all-electric medium and heavy-duty vehicles, including
transit buses, school buses, shuttles, cargo vans and a cab and
chassis. GreenPower employs a clean-sheet design to manufacture
all-electric vehicles that are purpose-built to be battery powered
with zero emissions while integrating global suppliers for key
components. This OEM platform allows GreenPower to meet the
specifications of various operators while providing standard parts
for ease of maintenance and accessibility for warranty
requirements. GreenPower was founded in Vancouver, Canada with primary operational
facilities in southern California.
Listed on the Toronto exchange
since November 2015, GreenPower
completed its U.S. IPO and NASDAQ listing in August 2020. For further information go
to www.greenpowermotor.com.
Forward-Looking Statements
This press release
contains forward-looking statements relating to, among other
things, GreenPower's business and operations and the environment in
which it operates, which are based on GreenPower's operations,
estimates, forecasts and projections. Forward-looking statements
are not based on historical facts, but rather on current
expectations and projections about future events and are therefore
subject to risks and uncertainties which could cause actual results
to differ materially from the future results expressed or implied
by the forward-looking statements. These statements generally can
be identified by the use of forward-looking words such as "upon",
"may", "should", "will", "could", "intend", "estimate", "plan",
"anticipate", "expect", "believe" or "continue", or the negative
thereof or similar variations. Such forward-looking statements
include, among other things, that GreenPower plans to deliver 6
more Type D BEAST school buses in California and West
Virginia in the near term; the expectation that the kids are
going to embrace this new clean ride; that three additional BEAST
all-electric school buses manufactured at the company's
South Charleston plant are planned
to be delivered in West Virginia
within the next month and Monongalia
County School District will receive these as part of the
order from the state of West
Virginia; and that Garden Grove Unified School District in
California plans to receive two
more by the end of October and one additional BEAST is expected to
be delivered to the Brawley Elementary School District this month;
that GreenPower currently has 126 live orders of school buses
representing more than $45 million in
business; and that Greenpower has quoted new orders for more than
180 school buses. The material assumptions supporting these
forward-looking statements include, among others, that GreenPower
will be able to complete the sale of all of its live orders of
school buses and quoted new orders of school buses; the
availability of grants/vouchers; GreenPower's ability to maintain
projected production deliveries within certain timelines; expected
expansion of GreenPower's production capacity; labor costs and
material costs remaining consistent with GreenPower's current
expectations; labor availability remaining consistent with
GreenPower's current expectations; production of electric buses
meeting customer expectations and at an expected cost; equipment
operating as anticipated; there being no material variations in the
current regulatory environment; and GreenPower's ability to obtain
financing as and when required and on reasonable terms. These
statements are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among
other things, not all orders being able to translate into revenue;
not being able to produce the full school buses for any reasons,
the delay or decrease in the production as a result of shortage of
parts and components, the school bus program not paying out the
funds as contemplated or at all, supply chain issues, availability
of grants/vouchers, availability of parts, including shipping
delays, availability of capital and availability of qualified
employees to produce the buses and others set forth in other public
filings of GreenPower (filed under GreenPower's profile
on www.sedarplus.ca or with the SEC at www.sec.gov).
Consequently, readers should not place any undue reliance on such
forward-looking statements. In addition, these forward-looking
statements relate to the date on which they are made. GreenPower
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable laws,
including the securities laws of the
United States and Canada.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. All amounts in U.S. dollars ©2024
GreenPower Motor Company Inc. All rights reserved.
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