Business
GreenPower Reports Record Revenue of $7.7 million and 57 Vehicle Deliveries for Fiscal Second Quarter 2023
VANCOUVER, BC, Nov. 15, 2022 /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":"VANCOUVER, BC, Nov. 15, 2022 /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 record revenues and deliveries for its second quarter ended September 30, 2022.\n\n \n \n \n \n \n \n\n \n\"In August, GreenPower celebrated the opening of a factory-ready facility in South Charleston, West Virginia with a ribbon cutting ceremony expanding the company's presence in the East Coast. The newly-hired team members have already trained, worked on and delivered GreenPower vehicles to customers in the region,\" said Fraser Atkinson, CEO of GreenPower. \"GreenPower followed the factory opening with the roll out of an all-electric school bus pilot project in September. Three GreenPower Type D school buses have been deployed in three West Virginia counties under the program, done in cooperation with the state and Gov. Jim Justice. GreenPower's award winning Nano BEAST Type A, ADA-compliant school bus was added to the pilot in a fourth county during the second phase of the pilot.\"\n\"In October, the EPA announced the selectees for their Clean School Bus Program. GreenPower has submissions with its dealers, school districts and state education departments and is prepared to meet this demand in a timely and efficient manner,\" Atkinson continued. \"GreenPower also continued to expand in California with HVIP vouchers, School Bus Set aside funding, CEC and the VW Trust funds during the quarter. With the completion of each contract GreenPower has the completed inventory to schedule deliveries.\"\nSecond Quarter Highlights:\nGenerated record revenues of $7,726,461 in the second quarter, an increase of 67% over the revenue of $4,629,371 for the second quarter in the previous year and double the revenue of $3,851,105 in the first quarter.Delivered 57 GreenPower vehicles in the quarter.Delivered production EV Star Cab and Chassis vehicles to Workhorse.Delivered three BEAST Type D all-electric school buses for the pilot project in West Virginia.Sold 21 EV Star 22' Cargos primarily to a diverse group of customers in New Jersey.Closed the acquisition of Lion Truck Body in July 2022 and recognized almost $600,000 of revenue in the quarter.Took possessi...