GreenPower Provides Business Update and Reports Second Quarter Fiscal 2025 Results

About this update from Greenpower Motor Company Inc.

[{"type":"text","content":"Shareholder Call Scheduled for November 15, 2024 at 10 a.m. EST/7 a.m. PST\nVANCOUVER, BC, Nov. 14, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (\"GreenPower\" and the \"Company\"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today reported its second quarter fiscal year 2025 results and provided an update on its manufacturing operations.\n\n \n \n \n \n \n \n\n \n\"GreenPower spent the quarter advancing the school bus production process at its West Virginia facility by setting up an oversized paint booth and establishing production stations to increase throughput in order to meet customer orders and demands,\" said GreenPower President Brendan Riley. \"The increase in production coupled with manufacturing process improvements is expected to result in higher gross profit margins and cost reductions on a per unit basis as throughput improves.\"\nRiley said that the Company has been systematically increasing its production workforce to provide for its growing production. \"Putting the workforce in place and validating the manufacturing process is key to our efficiency, and production growth which is expected to drive cost savings on a per unit basis. With these in place, GreenPower will be able to attain its longer-term manufacturing goal of producing 20 school buses per month,\" he said, noting that steady, measured growth, a foundation of GreenPower's model, is critical for maintaining quality throughout the production process.\n\"The growth in production complements GreenPower's sales strategy of focusing on states where there are money and mandates for electric school buses,\" added Fraser Atkinson, CEO of GreenPower. \"While we continue to manufacture and sell EV school buses for current orders and contracts under both state and federal programs, the future is more focused on states that have put policies and plans in place to provide a cleaner, healthier ride for students through the deployment of electric school buses. States like California and New York, and regions like the Southwest.\"\nDuring the second quarter of GreenPower's fiscal year 2025, the manufacturing process was exhibited when the Company produced the first Type D BEAST...

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