Business
GreenPower Updates Sales Pipeline and Reports First Quarter Fiscal 2025 Results
Shareholder Call Scheduled for August 15, 2024 at 9:30 a.m. EDT/6:30 a.m. PDT VANCOUVER, BC, Aug. 14, 2024 /PRNewswire/ -- GreenPower Motor Company Inc.
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"Shareholder Call Scheduled for August 15, 2024 at 9:30 a.m. EDT/6:30 a.m. PDT\nVANCOUVER, BC, Aug. 14, 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 reported its first quarter fiscal year 2025 results and provided an update on its sales pipeline. \n\n \n \n \n \n \n \n\n \n\"We have seen a significant uptick this summer in our sales pipeline for GreenPower's all-electric commercial vehicles, including 28 specialty vehicles for deployment in Canada which would utilize our current inventory of EV Star Cab & Chassis. We've also received orders for EV Star Passenger Vans in a variety of seating configurations and EV Star Cargo Plus for more than 20 vehicles,\" said Fraser Atkinson, GreenPower Chairman and CEO. \"We anticipate delivering most of these vehicles by the end of this calendar year.\"\n\"The pipeline of GreenPower all-electric, purpose-built, zero-emission school bus orders has more than 30 vehicles slated for delivery in California and Oregon over the next 90 to 120 days,\" added Brendan Riley, GreenPower President. \"These orders complement the 88 school buses previously announced for the East Coast. This East-West strategy of manufacturing and delivering product nationwide is what the Company envisioned when the West Virginia plant was added to complement our California production capacity.\"\n\"While uncertainty over state regulations and federal incentives combined with other global economic factors slowed some EV markets earlier this year, the increase in orders and quotes GreenPower is now experiencing shows that the demand for all-electric vehicles is still there and that the market is rebounding with significant growth potential as the industry addresses these hurdles and paves the way for a more electrified and sustainable future,\" Atkinson continued. \"Consequently, we see a step up in our revenue through the remaining quarters this fiscal year.\"\nFirst Quarter 2025 Highlights:\nGenerated revenues of $3.0 million for the three months ended June 30, 2024. Cost of sales of $2.8 million yielding a gross profit of more than $0.2 million.Deli...