Welcome to our dedicated page for GreenPower Motor Company Common Shares news (Ticker: GP), a resource for investors and traders seeking the latest updates and insights on GreenPower Motor Company Common Shares stock.
GreenPower Motor Company Inc. (NASDAQ: GP) is a prominent manufacturer and distributor of all-electric, zero-emission medium and heavy-duty vehicles catering to the cargo and delivery market, shuttle and transit space, and school bus sector. Founded in Vancouver, Canada, GreenPower has established its primary operational facilities in southern California.
Product Line and Key Technologies
- GreenPower offers a diverse range of electric vehicles including charter, school, and city buses, all of which utilize electric drive and battery technologies combined with lightweight chassis and low-floor body designs.
- The company's flagship product, the EV350 transit bus, launched in 2014, features a flexible clean-sheet design, a custom battery management system, and a proprietary flex power system for the drive motors.
- GreenPower's integrated global supplier network includes Siemens for drive motors, Knorr for brakes, ZF for axles, and Parker for dash and control systems, ensuring high-quality components and ease of maintenance.
Innovative Projects and Recent Achievements
- In April 2024, GreenPower introduced the EV Star Utility Truck, an all-electric vehicle with a payload capacity of up to 6,000 pounds and a range of up to 150 miles. This truck is part of the EV Star Cab & Chassis family and is tailored for various commercial applications.
- GreenPower's latest addition, the EV Star REEFERX, unveiled in June 2024, is a state-of-the-art all-electric refrigerated truck designed for mid to last-mile delivery, capable of transporting temperature-sensitive goods efficiently.
- The company has actively participated in several high-profile expos, including the NYC Fleet Show and the Advanced Clean Transportation Expo, showcasing its range of electric vehicles and innovative technologies.
Financial and Market Insights
GreenPower trades on both the NASDAQ and the TSX Venture Exchange under the symbols GP and GPV, respectively. The company completed its U.S. IPO and NASDAQ listing in August 2020 and has been listed on the Toronto exchange since November 2015. In May 2024, GreenPower commenced an underwritten public offering in the United States to fund the production of all-electric vehicles and product development.
Partnerships and Collaborations
GreenPower collaborates with various suppliers and partners to enhance its product offerings and market reach. The company's OEM platform allows it to meet the specifications of different operators while ensuring standard parts for ease of maintenance and warranty requirements.
Commitment to Sustainability
GreenPower is dedicated to leading the transition to sustainable transportation by providing all-electric vehicles that offer low total cost of ownership, minimal maintenance, and outstanding reliability and efficiency. The company supports various incentive programs, such as the New York Truck Voucher Incentive Program and the New York School Bus Incentive Program, to facilitate the adoption of electric vehicles.
For further information, visit www.greenpowermotor.com.
GreenPower Motor Company (NASDAQ: GP) has secured an order for four wirelessly charged, FTA Buy America compliant EV Stars from Grant Transit Authority in Washington. Funding for the $180 million program will support this purchase. This order marks GreenPower's expansion beyond California, showcasing its market outreach and commitment to zero-emission vehicles. The EV Stars will utilize Momentum Dynamics' wireless charging system, promoting efficient energy use. GreenPower aims to leverage federal funding to meet the growing demand for electric vehicles as the economy recovers.
GreenPower Motor Company Inc. (NASDAQ: GP) announced its investor conference roadshow schedule for March 2021, highlighting its partnership with Forest River and initiatives for all-electric school buses. Key events include participation in the B Riley Securities Sustainable Energy & Technology Conference from March 9-10, the Cowen Mobility Disruption Conference from March 10-12, the Roth Capital Partners Conference from March 15-17, and the Maxim Emerging Growth Conference from March 17-19. The company specializes in zero-emission electric vehicles, aiming to revolutionize the medium and heavy-duty vehicle sector.
GreenPower Motor Company (NASDAQ: GP) has received an order for 30 EV Stars from Zeem Solutions, a provider of e-mobility logistics. This order includes various seating configurations, including wheelchair-accessible units. The EV Stars, previously leased to Green Commuter, are designed to support fleet operations with zero-emission solutions. Brendan Riley, President of GreenPower, emphasized Zeem's growth amid rising market demand. The EV Star platform features six models tailored for cargo and micro transit, and boasts a versatile charging system for operational flexibility.
GreenPower Motor Company (NASDAQ: GP) announced an exclusive purchase agreement with Forest River, a Berkshire Hathaway company (NYSE: BRK.A), for up to 150 EV Star Cab and Chassis units. The EV Star CC will support Forest River's new zero-emission product line. Initial deliveries include six units this quarter, with the remaining units expected over 36 months. Forest River is a major player in the bus and recreational vehicle markets, boasting over $5 billion in annual revenues and 10,000 employees.
GreenPower Motor Company (Nasdaq: GP) announced its fiscal Q3 2021 results for the period ending December 31, 2020. The company delivered 17 vehicles, generating revenues of $2,398,781 with a gross profit of $909,807 or 37.9% gross margin. GreenPower reported a working capital of $31,310,393 and over $21 million in cash. The company converted $3,243,702 of debentures and reduced loans by $1,973,400. Production of all-electric school buses has increased in response to demand. However, losses amounted to $2,133,106 for the quarter.
GreenPower Motor Company reported financial results for the third quarter ending December 31, 2020, delivering 17 vehicles and generating revenues of $2,398,781, with a gross profit of $909,807 (37.9% margin). Working capital stood at $31,310,393, including over $21 million in cash. The company converted $3,243,702 in debentures and repaid $1,973,400 in loans, lowering future interest costs. Production of school buses increased due to strong demand, while an autonomous AV Star was delivered to Jacksonville Transit Authority.
GreenPower Motor Company (Nasdaq:GP) will host a conference call on February 11, 2021, at 2:00 p.m. PST / 5:00 p.m. ET to discuss its financial results for Q3 of fiscal 2021, ending December 31, 2020. The call aims to provide a business update for shareholders and interested parties. Interested participants can join by dialing the provided numbers or accessing the webcast. GreenPower designs and manufactures electric buses, emphasizing zero emissions and integrating key global suppliers for its components.
GreenPower Motor Company (NASDAQ: GP) has reported 17 vehicle deliveries for the quarter ending December 31, 2020, including 15 EV Stars, 1 EV Star +, and 1 EV Star Cargo +. By the close of the quarter, it had 95 vehicles either completed or in production. The company plans to increase monthly production of its all-electric school buses from 5 to 10 due to strong market response. Anticipated delivery increases are expected in late spring and summer 2021 as logistical issues from the pandemic ease. Financial results will be disclosed in February.
GreenPower Motor Company has delivered the first fully autonomous EV Star to the Jacksonville Transportation Authority (JTA) in collaboration with Perrone Robotics. This marks a significant development in zero-emission public transport, as the EV Star is expected to enter service in February 2021. Additionally, GreenPower is building a second unit for a nationwide demonstration tour starting in March 2021. The collaboration underscores the rising demand for autonomous vehicles, positioning GreenPower to explore new markets for automated applications.
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.
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