GreenPower Delivers First All-Electric EV Star Refrigerated Box Trucks to University of California San Diego

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Mar 09, 2023, 08:00 ET

LOS ANGELES, March 9, 2023 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), 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 announced the delivery of its first refrigerated box trucks to the University of California San Diego.

Fraser Atkinson, CEO and Brendan Riley, President with the EV Star refrigerated box truck

"GreenPower has expanded its offering of purpose-built, all-electric commercial vehicles with the addition of the best-in-class, EV Star Refrigerated Box Truck," said GreenPower Vice President of Medium Duty & Commercial Vehicle Sales Claus Tritt.

The EV Star Refrigerated Box Truck is a unique offering for the medium and heavy-duty delivery market. The refrigerator unit gets its power directly from the high-voltage battery and the design is 20% more efficient and 10% lighter than any comparable low-voltage unit currently sold in the US.

"More payload and longer range makes the EV Star Refrigerated Box Truck a real game-changer for the transportation of goods that require refrigeration," Tritt continued. "Utilizing GreenPower's EV Star Cab and Chassis and working with our partner Lion Truck Body, we can configure the vehicle to meet the customer's requirements while integrating all the systems and electrical requirements into our vehicle."

The vehicle has a payload of up to 5,000 pounds and consists of an energy efficient cooling system, a 16-foot insulated and lined box and a liftgate. The EV Star platform is a purpose-built, zero-emission cab and chassis with a battery pack of 118 kWh, a range of up to 150 miles and will charge up to 19.2 kW on a standard Level 2 J1772 protocol or 60kW using a DC fast charge.

"We estimate the refrigerated trucking total addressable market in North America will be more than $5.9 billion by 2028. As operators are electrifying their fleets, GreenPower will see significant growth in the marketplace with this innovative product," Tritt concluded.

GreenPower's purpose-built, all-electric commercial vehicles are eligible for up to $40,000 in tax credits under the Inflation Reduction Act. GreenPower vehicles also qualify for California's HVIP program that has funding of $250 million, and the New Jersey ZIP program which will open shortly with funding of $90 million.

Interested parties should visit www.greenpowermotor.com for more information on GreenPower's all-electric EV Star suite of products or navigating the voucher application process.

Contacts

Claus Tritt, VP Medium Duty & Commercial Vehicle Sales
[email protected]

Allie Potter
Skyya PR for GreenPower
(218) 766-8856
[email protected]

About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com

Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts, and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "up to", or "continue", or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors, including those set forth in other public filings (filed under the Company's profile on www.sedar.com), could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts are in US dollars © 2023 GreenPower Motor Company Inc. All rights reserved.

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