GreenPower Motor Company Inc. Reports Fiscal Year 2024 Results
VANCOUVER, BC, June 28, 2024 /PRNewswire/ — GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) shared its annual results for the year ending March 31, 2024. Despite challenges in the EV sector, GreenPower has continued its transition to a production plan driven by customer orders. This shift involved expanding manufacturing capabilities in California and West Virginia, investing in GP Truck Body, and securing production funding sources.
The company successfully completed the build-out of its West Virginia manufacturing facility and delivered its first all-electric school buses from the facility in December 2023. GreenPower saw a four-fold increase in school bus sales, with ongoing production of Type D BEAST and Type A Nano BEAST school buses. Additionally, investments in GP Truck Body have enhanced the delivery time of upfitted EV Star Cab & Chassis trucks, introducing new designs like the EV Star Utility Truck and EV Star REEFERX.
Key Highlights from fiscal year 2024 include:
– $39.3 million revenue generated
– Delivered 222 all-electric vehicles
– Expanded dealer network
– Revolving $5 million term loan facility established with EDC
– Received “2023 Green Car Product of Excellence” award for the EV Star Cab & Chassis
Looking ahead, GreenPower’s executives will discuss these achievements and more in a conference call scheduled for July 1, 2024, at 9:30 a.m. EDT. Participants can join the call using the provided dial-in information or the webcast link.
For additional information on the results, you can access GreenPower’s audited financial statements on their website or platforms like SEDAR and EDGAR.
For more details or inquiries, reach out to GreenPower’s team:
– Fraser Atkinson, CEO: (604) 220-8048
– Brendan Riley, President: (510) 910-3377
– Michael Sieffert, CFO: (604) 563-4144
GreenPower Motor Company Inc. specializes in designing, building, and distributing all-electric medium and heavy-duty vehicles. The company’s clean-sheet design approach ensures purpose-built, zero-emission vehicles that align with operators’ needs.
This document contains forward-looking statements based on current expectations and projections. Actual results may vary due to risks and uncertainties, as detailed in public filings. GreenPower disclaims any obligation to update forward-looking statements.
All of GreenPower Motor Company Inc.’s rights reserved. ©2024
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