GreenPower Appoints Monarch Truck Center as Dealer in the California Bay Area

Monarch Places Order for Four GreenPower EV Star Cargo Plus Box Trucks

LOS ANGELES, Feb. 15, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV:GPV) ("GreenPower"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced the appointment of Monarch Truck Center, a premier medium-duty truck dealer in the California Bay Area, as its commercial dealer serving the St. Clara, San Jose and Union City, California markets.

"GreenPower is excited to welcome Monarch Truck Center to our network of commercial EV truck dealers. They are a current customer of GreenPower's wholly-owned subsidiary Lion Truck Body, making this new dealer relationship a natural," said Claus Tritt, GreenPower's Vice President of Medium-Duty and Commercial Vehicle Sales. "Monarch's customer centric approach fits well with GreenPower's one-stop shop philosophy for sales, upfitting, delivery and service. They have a vested interest in their customer's business and value the overall customer experience whether the customer is purchasing a vehicle, renting, leasing or in need of service. The customer's satisfaction is Monarch's first priority."

Monarch this week placed an order for four all-electric, zero-emission GreenPower EV Star Cargo Plus commercial vehicles which will immediately be available for sale to its customers. With a standard 836 cubic feet of cargo capacity, the purpose-built GreenPower EV Star Cargo Plus exceeds delivery needs with improved payload to range ratios. The box truck has an optimal battery placement which provides for a lower center of gravity resulting in maximum cargo capacity of up to 5,000 pounds and a range of up to 150 miles.

"We are proud to offer our customers the best vehicles available in the marketplace," said Nicole Guetersloh, President of Monarch. "Adding the GreenPower EV Star lineup of purpose-built, Class 4 trucks to our inventory gives us an opportunity to sell a proven all-electric vehicle to our customers who are looking to reduce their carbon footprint with zero-emission transportation."

Monarch is currently an authorized dealer for Isuzu, Hino and REE (EV) trucks, and is the undisputed Bay Area leader in new and used medium-duty truck sales and leasing. With years of experience in building various truck applications for their own rental/lease fleet, Monarch has learned how to design a truck that will fit the needs of businesses in a variety of different industries and stand up to the harsh world of day-to-day use. Being in the rental/leasing business since 1976, Monarch's knowledgeable staff provides expert advice about the ins and outs of all truck body applications. With a 250 plus rental/lease fleet of box vans, flatbeds, dumps and refrigeration trucks, Monarch knows what it takes to maintain a vehicle and keep it running smoothly. Their factory trained technicians, truck repairs, parts-service department and body shop service help company's medium-duty trucks stay on the road and operate at peak performance well past the warranty date.

Guetersloh noted that Monarch has now been listed as an approved California HVIP dealership for GreenPower all-electric, purpose-built commercial vehicles. A HVIP approved dealer is responsible for requesting vouchers on behalf of customers at the point of purchase. HVIP accelerates commercialization of zero-emission vehicles by making them more affordable through the voucher program. "With an enhanced HVIP voucher, small fleet operators have the ability to work with Monarch to purchase a brand new GreenPower all-electric vehicle for less than $25,000 before taxes, and that is before any realized federal tax credit benefit from the federal incentives program," Tritt concluded.

Contacts:

Claus Tritt

Vice President of Medium-Duty and Commercial Vehicle Sales

[email protected]

Allie Potter

Skyya PR for GreenPower

(218) 766-8856

[email protected]

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 vans 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.

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. 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 are in U.S. Dollars ©2024 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company