Business
GreenPower Announces Revenue of $34.2 million Year-To-Date for Fiscal 2024, a 40% Increase from Previous Year
VANCOUVER, BC, Feb. 12, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"VANCOUVER, BC, Feb. 12, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (\"GreenPower\" and the \"Company\"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced its financial results for the three and nine months ended December 31, 2023.\n\n \n \n \n \n \n \n\n \nGreenPower reported record revenues of $34.2 million for the nine months ended December 31, 2023, an increase of 40% over the revenue of $24.4 million for the comparable period in the previous fiscal year. The Company delivered 196 vehicles for the nine months ended December 31, 2023 consisting of EV Star Cab & Chassis, EV Star Cargoes, EV Star Passenger Vans, speciality EV Star products, Type D BEAST school buses and Type A Nano BEAST school buses.\nAll-Electric School BusesDuring the quarter GreenPower continued to see growth in its school bus division. \"We achieved a significant milestone with the delivery of four Type A Nano BEAST school buses that were the first all-electric, purpose-built school buses manufactured in West Virginia. These Nano BEASTs are part of the 41 all-electric GreenPower school buses ordered by the state of West Virginia,\" said Fraser Atkinson, GreenPower Chairman and CEO. \"We also delivered nine Type D BEAST school buses to California schools, for a total of 13 all-electric, purpose-built, zero-emission school buses delivered in the quarter.\"\nProduction started of the Type D all-electric, purpose-built BEAST school bus at the Company's West Virginia manufacturing plant during the quarter. \"As demand on the East Coast grows, we've commenced production of our BEAST school bus at the West Virginia plant,\" added GreenPower President Brendan Riley. \"In the immediate term, this production is designed to fulfill the current orders for 38 BEASTs in West Virginia and prepare the production team for the mixed manufacturing of BEASTs and Nano BEASTs at the facility to meet the demand created from projected sales.\"\n\"Manufacturing capacity on the East Coast is important to the school bus division,\" Atkinson noted. During the quarter the first order for Nano BEAST school buses for the New York market was placed by GreenPower's dealer Leonard Bus Sales...