GreenPower Delivers Its First All-Electric EV Star Cargo Plus to the City of Vancouver

Rhea-AI Summary

GreenPower Motor Company (NASDAQ: GP) announced the delivery of its first EV Star Cargo Plus to the City of Vancouver, aligning with the city's goal to reduce carbon emissions by 50% by 2030. The EV Star Cargo Plus replaces a traditional fossil fuel-powered vehicle and features a payload capacity of over two metric tons. CEO Fraser Atkinson highlighted the vehicle's 240 km range on a single charge and GreenPower's established presence with over 100 EV Stars on the road, positioning the company well to meet growing market demands.

Positive

• Delivery of the first EV Star Cargo Plus supports Vancouver's climate goals.
• Vehicle offers over 240 km range on a single charge.
• GreenPower has over 100 EV Stars currently operational.

Negative

• None.

VANCOUVER, BC, Dec. 14, 2020 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero emissions electric powered medium and heavy-duty vehicles, announced today the delivery of its first EV Star Cargo Plus to the City of Vancouver.   

The City of Vancouver has a Greenest City Action Plan and has adopted a Climate Emergency Action Plan to reduce carbon pollution by 50% by 2030.  GreenPower's zero emissions EV Star Cargo Plus replaces a traditional fossil fuel powered panel truck as part of the City's broader strategy to electrify its fleet of vehicles.  The EV Star Cargo Plus is equipped with a 730 kilogram liftgate, rolling door, a cube with an interior height of over two meters and payload of over two metric tons.

Fraser Atkinson, CEO of GreenPower commented, "This represents the first delivery of an EV Star Cargo Plus leveraging GreenPower's uniquely designed EV Star Platform, which has been independently tested for a range of over 240 kilometers on a single charge.  The flexibility of our platform, combined with the fact that GreenPower has over 100 EV Stars currently on the road, leaves the Company in a very advantageous position to scale and meet the rapidly evolving needs of numerous markets." Atkinson concluded, "We are proud to be helping the City of Vancouver in achieving the goal of reducing its reliance on fossil fuels."

About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, a cargo van and a double decker.  GreenPower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions.  GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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. For further information go to www.greenpowerbus.com

Forward-Looking Statements
This document 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. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, or are beyond GreenPower's control. A number of important factors including those set forth in other public filings (filed under the Company's profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. 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.

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. © 2020 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company

FAQ

What is the significance of GreenPower's delivery of the EV Star Cargo Plus?

The delivery supports the City of Vancouver's initiative to cut carbon emissions by 50% by 2030.

What are the specifications of the EV Star Cargo Plus delivered to Vancouver?

The EV Star Cargo Plus can carry over two metric tons and has a liftgate and rolling door.

How far can the EV Star Cargo Plus travel on a single charge?

The EV Star Cargo Plus has a tested range of over 240 kilometers on a single charge.

How many EV Stars has GreenPower put on the road?

GreenPower has over 100 EV Stars currently operational in various markets.