Business
GreenPower and Forest River Enter Into Exclusive Purchase Agreement for 150 EV Star Cab and Chassis Units to Support New Line of Zero-Emission Products
LOS ANGELES, Feb. 11, 2021 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"LOS ANGELES, Feb. 11, 2021 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (\"GreenPower\"), a leading manufacturer and distributor of zero-emission, electric-powered medium and heavy-duty vehicles, today announced that it has entered into an exclusive purchase agreement related to Cutaway minibuses and Type B and C Recreational Vehicles with Forest River, Inc. (\"Forest River\"), a Berkshire Hathaway company (NYSE: BRK.A), for up to 150 GreenPower EV Star Cab and Chassis (\"EV Star CC\"). The purpose-built all-electric EV Star CC will be used in a new line of Forest River zero-emission product offerings. Greenpower expects to deliver the first six units this quarter, with the remainder expected to be delivered over the next 36 months at a run rate that will be determined by the third quarter of 2021.\n\n \n \n \n \n \n \n\n \nForest River is a leading manufacturer in the cutaway bus, motorhome, and truck industries, which celebrated the delivery of their 100,000th bus in July of 2020. Forest River has over 10,000 employees and annual revenues in excess of $5 Billion. It is anticipated that the initial deliveries of Greenpower EV Star CC units to Forest River will be directed at the cutaway shuttle bus, commercial truck and recreational vehicle markets.\nGreenPower's EV Star Cab and Chassis: Click here\nBrendan Riley, President of GreenPower, commented, \"Forest River is a forward-thinking company that is looking to solidify their market position long into the future by adding a purpose-built, zero-emission offering to many of their product lines.\" Riley added, \"The EV Star Cab and Chassis meets the demands of many of their addressable markets and allows Forest River to focus on what they are experts at: building bodies.\"\nDavid Wright, President of Forest River's bus divisions added, \"Forest River has been looking for a purpose-built all-electric chassis that has the range and the carrying capacity that our customers and dealers demand. Zero-emission vehicles are where the markets are going, and the GreenPower EV Star CC gives us the flexibility to address a variety of unmet needs in the commercial market.\" \nRyne Shetterly, VP of Sales and Marketing at GreenPower also commented, \"At GreenPower, we view this as a tremendous opportunity to enter a relationship with one of the most highly respected an...