Companies Leverage California HVIP Program to Facilitate
Transaction
LOS ANGELES, Sept. 23, 2021 /CNW/ -- 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 that WeShip LLC
("WeShip") has taken delivery of 10 GreenPower EV Star Cab and
Chassis ("EV Star CC") that will be used in a first-of-its-kind
utility in Southern
California.
WeShip and GreenPower secured HVIP vouchers in the amount of
$66,000 per EV Star Cab and Chassis
for a total of $660,000 in funding
for this project, and GreenPower provided lease financing to fund
the remainder of the purchase price. The original date for
the HVIP request was June
8th, 2021, with 6-8 weeks thereafter to process
the voucher and final delivery this month.
Brendan Riley, President of
GreenPower commented, "This transaction with WeShip highlights the
benefits of GreenPower's market readiness strategy. We
anticipated substantial demand would emerge this summer and fall
with low lead times desired by customers. In response, we
built substantial inventory across our product lines. If you
look at the turnaround time from purchase order, through funding
request and final delivery, you will see that nobody else in the
space has demonstrated that type of efficiency, and that is just
one more thing that separates GreenPower from the rest of the
pack."
Ryne Shetterly, VP of Sales and
Marketing at GreenPower added, "We have worked with the executive
team at WeShip in the past and they have been great advocates for
the GreenPower product line. We look forward to working with
them in this exciting new capacity, with additional details to
follow in the near future." Shetterly continued, "This also
represents the first delivery leveraging California's 2021 HVIP program. The
re-opening of the HVIP program on June
6th has served as a significant sales
catalyst across multiple GreenPower product lines and we expect
associated deliveries to accelerate further in the coming
months."
GreenPower's EV Star Cab and Chassis accommodates a wide variety
of mid and last mile needs, incorporating a body of the customers
choosing, on GreenPower's highly rated chassis, all while
maintaining the benefits of being a zero-emissions vehicle.
This first-to-market, purpose-built Cab and Chassis delivers an
industry leading carrying capacity up to 7,000 pounds and a range
of 150 miles.
Contacts:
Brendan
Riley
President
(510) 910-3377
Ryne Shetterly
Vice President of Sales and Marketing
(909) 954-7530
Mike Cole
Investor Relations
(949) 444-1341
Megan Kathman
Skyya PR for GreenPower
(651) 785-3212
About GreenPower Motor Company Inc.
GreenPower
designs, builds and distributes a full suite of high-floor and
low-floor vehicles, including transit buses, school buses,
shuttles, a cargo van and a double decker. GreenPower employs
a clean-sheet design to manufacture all-electric buses that are
purpose built to be battery powered with zero emissions.
GreenPower integrates global suppliers for key components, such as
Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for
the axles and Parker for the dash and control systems. 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. 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" 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 expressed in U.S
dollars. © 2021 GreenPower Motor Company Inc. All rights
reserved.
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SOURCE GreenPower Motor Company