GreenPower to Take Possession of West Virginia Manufacturing Facility in August 2022
Pilot project to test all-electric school buses in school transportation operations across the state
CHARLESTON, W.Va., June 2, 2022 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero-emission, electric-powered, medium and heavy-duty vehicles, today announced the company's timeline to begin manufacturing zero-emission, all-electric school buses in its newly-acquired facility in South Charleston, West Virginia.
"GreenPower will take possession of the West Virginia manufacturing facility in August and production will begin in September," said Fraser Atkinson, CEO and Chairman of the Board of GreenPower. "The facility will be instrumental in ramping up production of our all-electric school buses, the BEAST and Nano BEAST, in time to meet the demand created by EPA's Clean School Bus Program and state legislative mandates."
In January, GreenPower and Gov. Jim Justice announced plans for GreenPower to produce zero-emission, all-electric vehicles in West Virginia. Since then, efforts have been underway to begin manufacturing with buses rolling off the line by the third quarter of this fiscal year.
"Our West Virginia operations will serve as a cornerstone for U.S. manufacturing to deliver electric school buses to our customers on the East Coast and adjacent regions," said Brendan Riley, President and Director of GreenPower. "Gov. Justice, members of his cabinet and staff, state legislators, city officials and educators at BridgeValley have all worked tirelessly to ensure we are up and running by late summer."
During a Capitol press briefing today, Gov. Justice directed his Secretary of Economic Development Mitch Carmichael to work with GreenPower to develop a pilot project that will demonstrate GreenPower's all-electric school buses in school districts across the state of West Virginia. The goal of the pilot project will be to provide real-world testing of the vehicles in all areas of the state, both rural and urban, so that school districts have a better feel for the operations of the buses, including the needs and requirements of the charging infrastructure.
GreenPower's production announcement and pilot project come at a time when the federal government is offering new funding under the Bipartisan Infrastructure Law to assist school districts with the purchase of all-electric school buses. The Environmental Protection Agency's (EPA) Clean School Bus Program Funding will provide for up to $375,000 for the larger Type D school buses (The BEAST) and up to $285,000 for the smaller Type A school buses (Nano BEAST). The EPA is also providing funding of up to $20,000 per bus for charging infrastructure for Level 2 charging systems.
The West Virginia state legislature this year also increased the incentive for West Virginia school districts to deploy electric school buses made in the state. HB 4571, which was passed by the legislature and signed into law by the Governor, increased the School Foundation Allowance by 10% for using an electric school bus and an additional 5% for the portion of buses manufactured in West Virginia.
"GreenPower is excited to begin this next chapter of the company's production in West Virginia. Increasing our supply of purpose-built, zero-emission, all-electric school buses to meet the demand of school districts and parents up and down the eastern seaboard through this facility meets the goals set forth when reaching expansion agreements with the state," concluded Atkinson.
Media and Investor Contacts:
Brendan Riley
GreenPower President
(510) 910-3377
Mike Cole
Investor Relations
(949) 444-1341
Allie Potter
Skyya PR for GreenPower
(218) 766-8856
[email protected]
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
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" 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. © 2022 GreenPower Motor Company Inc. All rights reserved.
SOURCE GreenPower Motor Company
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