GreenPower Motors: Driving Ahead in the Electric Vehicle Revolution

GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles, recently provided a corporate update that highlights the company's strategic expansion and strong financial performance. The update underscores GreenPower's commitment to driving long-term growth and capitalizing on the industry's rapid shift towards zero-emission fleet solutions.

GreenPower's strategic expansion of its manufacturing footprint in California and West Virginia aligns with its long-term growth objectives. The company is consolidating its California operations into one larger facility in the Inland Empire, allowing for more cost savings and increased efficiency. Additionally, GreenPower is set to deliver one BEAST per week from its South Charleston facility, with production increasing to two per week by April, plus Nano BEAST production. This expansion is expected to result in higher gross profit margins and cost reductions on a per unit basis as throughput improves.

GreenPower's focus on states with mandates and funding for electric school buses is a strategic move that enhances its market penetration and future growth prospects. By targeting states with supportive policies, GreenPower can tap into a larger market with a higher demand for its products. This targeted approach allows the company to increase sales and revenue, establish a strong foothold in those markets, and leverage economies of scale.

GreenPower's third quarter fiscal year 2025 highlights include:

* Generated revenues of $7.2 million for the three months ended December 31, 2024, an increase of 35% over the previous quarter.
* Gross profit improved to 14.6% of revenue, up from 8.6% for the previous quarter.
* Delivered 13 BEAST Type D all-electric school buses, one Nano BEAST Type A school bus, one EV Star Cargo Plus, and 13 EV Star Passenger Vans.
* At the end of the quarter, GreenPower had working capital of $12.8 million, an increase of $2.7 million over the previous quarter, and inventory of $28.2 million.
* Deferred revenue at the end of the quarter increased to $10.8 million.
* Completed an underwritten offering of 3,000,000 common shares, raising gross proceeds of $3 million.

GreenPower's strong financial performance and strategic expansion position the company to drive long-term growth and capitalize on the industry's rapid shift towards zero-emission fleet solutions. The company's focus on states with mandates and funding for electric school buses, combined with its commitment to increasing production and improving efficiency, sets the stage for continued success in the electric vehicle market.

In conclusion, GreenPower Motor Company Inc. is well-positioned to drive long-term growth and capitalize on the industry's rapid shift towards zero-emission fleet solutions. The company's strategic expansion of its manufacturing footprint in California and West Virginia, combined with its focus on states with mandates and funding for electric school buses, sets the stage for continued success in the electric vehicle market. GreenPower's strong financial performance and commitment to innovation and sustainability make it an attractive investment opportunity for those looking to capitalize on the growing demand for electric vehicles.