Greenpower Motor shares surge 64.42% intraday after securing $10M financing and $14.6M state incentive deal for EV manufacturing in Santa Teresa.

Greenpower Motor surged 64.42% intraday, driven by two key announcements: securing $10 million in financing (including $5 million from CIBC and $5 million from family offices) to accelerate production and general operations, and signing a $14.6 million agreement with New Mexico’s government to build an advanced EV manufacturing facility in Santa Teresa. The deal includes $5 million in LEDA grants, $4.6 million in JTIP funding, and $5 million in tax credits, expected to create over 340 jobs and generate $200 million in economic impact.