GreenPower Motor Company Announces OEM Agreement with Autonomous Vehicle Technology Provider Perrone Robotics

Rhea-AI Summary

GreenPower Motor Company (NASDAQ: GP) has announced a new OEM agreement with Perrone Robotics to enhance autonomous shuttle offerings tailored for transit authorities across the U.S. This partnership aims to revolutionize urban mobility by integrating Perrone's TONY® autonomous vehicle retrofit kit into GreenPower's EV Star, an all-electric, ADA-compliant vehicle. The AV Star is designed to meet the growing demand for reliable transit solutions, capable of carrying up to 16 passengers at highway speeds. The unveiling coincides with the APTA Expo in Orlando, showcasing groundbreaking advancements in autonomous transit.

Positive

• New OEM agreement with Perrone Robotics to enhance autonomous shuttle offerings.
• Integration of TONY® retrofit kit into GreenPower's EV Star for advanced transit solutions.
• AV Star can carry up to 16 passengers, targeted at transit authorities, enhancing public mobility options.
• Showcasing at the APTA Expo increases visibility and potential adoption in the transit industry.

Negative

• None.

Partnership will accelerate autonomous shuttle offerings for transit authorities across America

VANCOUVER, BC, Nov. 8, 2021 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero emission electric-powered vehicles, together with Perrone Robotics, a leading provider of fully autonomous vehicle (AV) technology and turnkey vehicle solutions for the mobility of people and things, today announced their Original Equipment Manufacturer (OEM) agreement. Under this new agreement, the two companies will continue to build on the success of the original AV Star developed for the Jacksonville Transportation Authority (JTA) in 2019. The original AV Star was developed to meet a growing demand in the transit and transportation sector where reliable mobility was a requirement to expand accessibility options for all end-users. Once deployed in 2019, the JTA AV Star became the nation's first fully autonomous, all electric, ADA-compliant, and FMVSS certified vehicle. The base EV Star vehicle is also Altoona tested and Buy America compliant.

Today with the success of this project, GreenPower and Perrone Robotics have come together to deliver the next generation of the AV Star. Through this OEM agreement, GreenPower's EV Star, a multi-purpose, zero-emission, min-E Bus will be upfitted with Perrone's TONY® (short for "To Navigate You") autonomous vehicle retrofit kit, which will transform the EV Star to the AV Star. Built on the same highly rated chassis as the EV Star and combined with Perrone's reliable autonomous vehicle platform, makes the AV star one of the most transit ready vehicles capable of autonomy in the market.

"Through Perrone's leading autonomy solution combined with our purpose-built, all -electric vehicles, we are able to provide the industry with reliable, innovative solutions together. This is the most compelling autonomous transit solution out there, and we are honored to partner with the true industry leader," said Fraser Atkinson, CEO of GreenPower. "This vehicle is going to be a market leading gamechanger, and we are looking forward to offering market-proven solutions at the national level.

This is an important milestone not only for Perrone and GreenPower, but the industry as a whole," continued Atkinson. "As we kick off the first day at the American Public Transit Association (APTA) Conference and Expo, we're excited to showcase this breakthrough new platform to thousands of industry stakeholders at this prestigious event."

"This new OEM agreement is an important step in delivering large capacity road-worthy AV mobility options for the transit and transportation industry," stated Paul Perrone, Founder and CEO of Perrone Robotics, Inc. "Our ability to meet evolving customer needs depends on our ability to work with partners like GreenPower with vehicle solutions that fill specific customer demands in the transit space. This is a critical step in the scale of autonomous vehicle solutions across the transit and transportation value chain. Cost-effective, zero-emissions, reliable autonomy that can extend end-user accessibility is the future of mobility. This relationship with GreenPower continues to validate why Perrone Robotics is the autonomy solution of choice, for vehicle manufacturers, customers, and AV passengers alike."

The AV Star aims to be a leading mobility and transportation choice for cities, municipalities, public and private campuses. The vehicle is capable of carrying up to 16 passengers, is ADA compliant, FMVSS compliant, and can travel at highway speeds. These are important and critical features driven by the vision for the future of autonomous transit.

The AV Star is currently being proved out in the industry through the company's work with the Jacksonville Transit Authority (JTA) and U2C to undergo testing for transit applications.

APTA Expo
GreenPower will exhibit at the American Public Transportation Association Expo (APTA) in Orlando, FL on Nov. 8-10, 2021. APTA attendees can learn more about GreenPower's electric vehicle offerings at Booth #2321 and check out GreenPower's AV Star at Perrone's booth #2313.

AV Star Demonstration
GreenPower and Perrone will be hosting a Ride & Drive event featuring the AV Star on Monday and Tuesday from 10-4:30 and Wednesday from 10-1 at West Hall C - Circular Entrance.

Panel with Jacksonville Transit Authority at APTA
APTA attendees can learn more about the AV Star during a panel hosted by Perrone Robotics on Nov 9, from 2:40 – 3:10 in the Hot Topics Learning Zone Booth #3261.

Panel participants include, Perrone Robotics CEO and Founder, Paul Perrone, with Jacksonville Transportation Authority, Chief Executive Officer, Nathaniel "Nat" P. Ford Sr. and moderated by transportation and mobility executive Richard "Dick" Alexander of Mobility360. The session topic  "Perspectives on Procuring and Implementing Autonomous Transportation Programs" will provide a unique perspective on AV on-road deployments.

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 van 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.

About Perrone Robotics, Inc.
Perrone is a leading provider of fully autonomous vehicle systems. The company delivers mobility excellence via TONY® (short for "TO Navigate You"), a vehicle independent retrofit kit for use in the autonomous transit of people and goods in geo-fenced and localized operations. TONY embeds inside any vehicle for any job to provide a complete "artificial driver" solution that brings full autonomy in a safety certifiable framework. Proven, piloted and in commercial production, Perrone autonomous systems help commercial, municipal, and governmental customers increase transportation efficiencies, enhance safety, and accelerate zero-emission electric vehicle deployment. The company also offers a portfolio of existing turnkey autonomous shuttles and vehicles pre-integrated with the TONY retrofit kit. Learn more @ www.perronerobotics.com or follow us @perronerobotics.

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. ©2021 GreenPower Motor Company Inc. All rights reserved.

Media and Investor Contacts:

Allie Potter, Skyya PR
allie@skyya.com 

Mike Cole, Investor Relations
mike.cole@greenpowermotor.com 
(949) 444-1341

View original content to download multimedia:https://www.prnewswire.com/news-releases/greenpower-motor-company-announces-oem-agreement-with-autonomous-vehicle-technology-provider-perrone-robotics-301418121.html

SOURCE GreenPower Motor Company

FAQ

What is the partnership between GreenPower and Perrone Robotics about?

GreenPower and Perrone Robotics have formed an OEM agreement to enhance autonomous shuttle offerings, integrating Perrone's TONY® technology into GreenPower's EV Star vehicles.

What does the AV Star vehicle offer to transit authorities?

The AV Star is an all-electric, ADA-compliant vehicle capable of carrying up to 16 passengers at highway speeds, aimed at improving public transportation.

Where is GreenPower Motor Company showcasing their new vehicle?

GreenPower is showcasing the AV Star at the American Public Transportation Association (APTA) Expo in Orlando, Florida from November 8-10, 2021.

What is the significance of the APTA Expo for GreenPower?

The APTA Expo is a prestigious event that allows GreenPower to showcase its innovative autonomous transit solutions to a wide range of industry stakeholders.

What are the key features of the AV Star?

The AV Star is designed for transit applications, is ADA compliant, FMVSS compliant, and can travel at highway speeds while being fully electric.