GreenPower EV Star Selected as an Eligible Vehicle by CalACT
On September 25, 2020, GreenPower Motor Company (NASDAQ: GP) announced its EV Star has been selected for a contract under CalACT and MBTA for zero-emission shuttles, allowing the purchase of up to 150 vehicles annually. GreenPower is one of four dealers qualified for this contract, providing a rapid procurement solution for transit authorities. The EV Star is notable for passing Altoona testing and adhering to Buy America Compliance. Additionally, California's recent executive order mandating a shift to zero-emission vehicles by 2045 may significantly boost EV adoption.
- GreenPower's EV Star selected for contract with CalACT and MBTA for zero-emission vehicles, enhancing market opportunities.
- The ability to sell up to 150 vehicles annually under the contract positions GreenPower for significant sales growth.
- The EV Star meets Buy America Compliance and has passed Altoona testing, providing a competitive edge.
- None.
LOS ANGELES, Sept. 25, 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, announces that GreenPower's EV Star has been selected as an eligible vehicle for the Morongo Basin Transit Authority ("MBTA") and California Association for Coordinated Transportation ("CalACT") purchasing cooperative RFP for zero emissions shuttles. This two-year contract allows CalACT members, including transit authorities, other public agencies and non-profits assigned by MBTA, to purchase up to 150 zero-emission vehicles per year. GreenPower's dealer Creative Bus Sales is only one of four dealers, representing select models of electric shuttles, including GreenPower's EV Star, that are qualified to sell under the contract.
CalACT/MBTA provides a California State compliant purchasing solution that allows transit properties to meet their procurement needs and get the vehicle they want in an expedited purchasing cycle that does not require a lengthy RFP process. GreenPower's EV Star is the only vehicle out of several all-electric vehicles that are eligible for purchase under the contract that has been Altoona tested and can be built under Buy America Compliance.
"Our Award is in the entirely new category that requires purpose built, from the ground up, medium duty battery electric buses. Also, the process to get on the purchasing cooperative is lengthy because CalACT wants to confirm that vendors are doing exactly what they represent to the industry. This process included a factory tour to ensure that our processes are in line with industry wide best practices. GreenPower's quality assurance programs were rigorously reviewed by some of the industry's most notable transit professionals and we passed with flying colors," stated Brendan Riley, President of GreenPower. "This is where our EV Star being made under Buy America Compliance and having passed Altoona becomes a significant competitive advantage. We are optimistic that GreenPower's inclusion in this contract will drive increased demand for the EV Star from a host of buyers that use this type of contract to purchase all of their vehicles."
On September 23, 2020 Gavin Newsom, the Governor of the State of California, signed executive order number N-79-20 directing the Air Resource Board to develop medium and heavy-duty vehicle regulations requiring increasing volumes of new zero-emission trucks and buses sold and operated in California towards the target of
Riley continued, "The executive order signed by Governor Newsom will act as a massive catalyst for EV adoption across California and will likely serve as a template for other states to follow. The recent California wildfires have stirred the debate on the need to accelerate the adoption of EV for the benefit of the climate. This action by Governor Newsom is a clear indication that the support of a transition to zero emission transportation solutions is a major priority for the state."
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 such as whether the executive order signed by Governor Newsom will act as a massive catalyst for EV adoption across California and serve as a template for other states to follow, or are beyond GreenPower's control, such as whether GreenPower will be successful in securing orders for EV Stars from the CalAct contract. 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 EV Star being selected by CalACT?
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