Business
GreenPower Reports Fiscal First Quarter 2021 Financial Results
VANCOUVER, Canada, Aug. 31, 2020 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq:GP) (TSXV:GPV) ("GreenPower"), a leading manufacturer and distributor
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"VANCOUVER, Canada, Aug. 31, 2020 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq:GP) (TSXV:GPV) (\"GreenPower\"), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal first quarter ended June 30, 2020.\n\"We commenced trading on Nasdaq on August 28th, 2020. We're excited that this provides us access to a broader market and will increase the exposure to GreenPower and its suite of products,\" said Fraser Atkinson, CEO of GreenPower. \"We continue to make great progress on our strategic objectives and have reached numerous key milestones identified over the past year. GreenPower will continue to focus on the six models within our proven EV Star platform that we can leverage to address a variety of lucrative markets that demonstrate high demand. We now have an even greater ability to pursue these markets aggressively and put additional vehicles on the road.\"\nHighlights of the first quarter:\nReported revenue of $2.27 million generating a gross profit of 27.2% of revenue Delivered 18 EV Stars to Green Commuter for which GreenPower provided lease financing Antelope Valley Transit deployed 8 EV Stars for their new micro transit service Greenpower's distributor Creative Bus Sales received an order for two EV Stars from UCLA Received final Altoona test report for the EV Star, achieving the highest score ever in its weight class of 92.2 Announced the launch of EV Star CC \"Cab and Chassis\" for cargo and delivery marketHighlights subsequent to the first fiscal quarter ended June 30th, 2020 include:\nCommenced trading on Nasdaq Capital Market under the symbol \"GP\" Received order for an additional 100 EV Stars from Green Commuter Received order for 10 all-electric B.E.A.S.T. school buses Announced first fully autonomous GreenPower EV Star developed with Perrone Robotics for Jacksonville Transit Authority Completed the first EV Star Cargo+ for the cargo and delivery market Commenced production of 10 B.E.A.S.T. school buses and 40 EV Stars\"I am proud of our team and our ability to continue delivering units during the first fiscal quarter while the economy regains its footing,\" stated Brendan Riley, President of GreenPower. \"As the world continues to adapt to the current environmen...