- GreenPower Motor Company (TSXV:GPV), an emerging electric car company, is announcing record deliveries of its all-electric school buses in Q2 FY2024
- The company delivered 16 purpose-built school buses during the quarter, in addition to 14 commercial vehicles
- The GreenPower Motor Company designs, builds and distributes a full suite of all-electric medium and heavy-duty vehicles
- GreenPower Motor Company stock (TSXV:GPV) is up by 3.16 per cent trading at $4.25 per share
GreenPower Motor Company (TSXV:GPV), an emerging electric car company, is announcing record deliveries of its all-electric school buses in Q2 FY2024.
The company delivered 16 purpose-built school buses during the quarter, including 13 BEAST school buses and three Nano BEAST school buses. It also delivered 14 commercial vehicles, including 12 EV Star passenger vehicles, an EV Star Cargo and an EV Star specialty vehicle.
Management believes the company is riding a tailwind from an increasing number of U.S. states mandating the switch to all-electric school buses, or providing funds and incentives to make this change. California recently joined Connecticut, Maine, Maryland and New York in the transition, with legislation clearing up to US$5 billion to achieve statewide zero-emission school buses by 2035. California also offers an incentive program for sustainable trucks and buses with hundreds of millions in available funding.
“During the quarter, GreenPower focused on increased production, sales and deliveries of its all-electric, purpose-built school bus products,” Fraser Atkinson, CEO of GreenPower, said in a statement. “Manufacturing of the Type A Nano BEAST is underway at the South Charleston facility and the West Virginia production team also made preparations for the start of Type D BEAST production, which will begin this fall.”
“In addition to production and deliveries, GreenPower concentrated on future sales from coast to coast,” added Michael Perez, GreenPower’s vice president of school bus contracts and grants. “We worked with our dealer network across the country to ensure compliance with differing state school bus specifications. We helped school districts nationwide apply for the second round of the EPA Clean School Bus Program. And we helped schools with planning and development of their charging infrastructure so that they are ready for deployment once they take delivery of their new all-electric GreenPower school buses.”
The GreenPower Motor Company designs, builds and distributes a full suite of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans and a cab and chassis.
Potential investors interested in learning more about the company can read Stockhouse’s profile on five emerging electric car companies to invest in today.
GreenPower Motor Company stock (TSXV:GPV) is up by 3.16 per cent, trading at $4.25 per share as of 9:31 am ET. The stock is down by approximately 90 per cent from its all-time high in January 2021.
Join the discussion: Find out what everybody’s saying about this emerging electric car company on the GreenPower Motor Company Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.