LOS ANGELES — GreenPower Motor Company Inc. (NASDAQ: GP) (“GreenPower” or the “Company”) today announced accelerated production of its all-electric school bus lineup, supported by a financing facility of up to $18 million, deployable in tranches of up to $2 million. The facility is designed to optimize cash conversion cycles, enabling GreenPower to match capital deployment with production timing as the Company scales output.
“We are entering a period of meaningful operational leverage,” said Fraser Atkinson, CEO of GreenPower. “With more than $50 million in contracted orders for our Nano BEAST and BEAST school buses, this facility allows us to convert backlog into deliveries more efficiently. Before finalizing the facility, we pre-built over 100 Nano BEAST cab chassis and 30 BEAST chassis, significantly reducing production lead times. This creates a clear path toward accelerated revenue recognition, margin expansion, and improved operating cash flow.”
GreenPower remains the only fully electric OEM manufacturing both a Class 4 Type A and Class 8 Type D school bus. This vertically integrated, purpose-built platform strategy positions the Company to capture share as the school transportation sector transitions to zero-emission fleets supported by federal and state incentives.
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. For further information go to www.greenpowermotor.com
