Welcome to our dedicated page for GreenPower Mtr Co news (Ticker: GP), a resource for investors and traders seeking the latest updates and insights on GreenPower Mtr Co 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 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.
GreenPower Motor Company Inc. (Nasdaq: GP) announced the granting of 20,000 incentive stock options to four outside directors, each receiving 5,000 options. These options, subject to TSX Venture Exchange approval, are exercisable for five years at $20 per share. The vesting schedule includes 25% after three, six, nine, and twelve months. Additionally, annual directors' fees have been set at $25,000 each, with an extra $5,000 for committee chairs.
GreenPower specializes in zero-emission electric vehicles for various markets, employing a sustainable design for its all-electric buses.
GreenPower Motor Company (NASDAQ: GP) announced the deployment of two EV Stars in Los Angeles County under a California Energy Commission Grant.
The project, in partnership with Green Commuter, aims to provide electric mobility services and charging infrastructure, benefiting 235 households with renewable electricity.
CEO Gustavo Occhiuzzo emphasized the versatility of the EV Star, while President Brendan Riley expressed confidence in the partnership's success.
GreenPower Motor Company has secured a second order from UCLA for its EV Star electric shuttles, expanding their fleet to three units. This order is supported by funding from the VW Mitigation Settlement, which contributes up to $160,000 towards the vehicle cost and entails scrapping an older vehicle. The first two units are actively transporting patients within UCLA Health. Ryne Shetterly, VP of Sales, noted the positive feedback from UCLA and highlighted their commitment to a zero-emissions fleet.
GreenPower Motor Company Inc. (Nasdaq: GP) announced the grant of 300,000 incentive stock options to key executives, each receiving 100,000 options. These options will be exercisable at $20 per share for five years, pending TSX Venture Exchange approval. The vesting schedule includes 25% vesting four months after the grant, with subsequent tranches vesting annually over three years. GreenPower focuses on manufacturing zero-emissions electric vehicles for various markets, including transit and cargo.
GreenPower Motor Company (NASDAQ:GP) announced the sale of six electric school buses to Thermalito Union Elementary School District via Creative Bus Sales. The B.E.A.S.T. buses have a range of up to 150 miles, supported by a 194.5kWh battery pack. Funding for one bus comes from Butte County's clean vehicle incentive program, while five buses are financed through the California Clean Energy Jobs Act, which has awarded over $1.7 billion for zero-emission transport. This sale exemplifies GreenPower's strategy to leverage multiple incentive programs as the transition to electric vehicles accelerates.
GreenPower Motor Company (Nasdaq:GP) reported its fiscal Q2 2021 results, highlighting a revenue of $2.8 million and a gross profit margin of 31.2%. The company completed its uplisting to Nasdaq, raising $37.7 million. Key achievements included the delivery of 21 buses, increased production capabilities, and a backlog of orders for 110 vehicles. The potential revenue from upcoming deliveries could exceed $13 million per quarter. Despite these gains, the company reported a net loss of $1.5 million for the quarter.
GreenPower Motor Company Inc. (Nasdaq: GP) announced a conference call scheduled for November 12, 2020, at 2:00 p.m. PST to discuss its financial results for the fiscal second quarter ended September 30, 2020. The call will provide a business update for shareholders and interested parties. Participants can access the call via specified dial-in numbers, and a replay will be available afterward. GreenPower specializes in electric vehicles for various sectors, emphasizing zero emissions with a clean-sheet design approach.
GreenPower Motor Company (NASDAQ: GP) announced CEO Fraser Atkinson's participation in the Building the Electric Vehicle Future webinar on October 22, 2020, organized by Maxim Group LLC and M-Vest. The event will feature a panel discussion where industry experts will explore long-term growth opportunities within the electric vehicle sector. Participants are encouraged to ask questions directly to Atkinson, who is leading GreenPower in the zero-emission vehicle market.
Webinar Date and Time: October 22, 11 AM Eastern Time.
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