GreenPower to Deliver Five BEASTs to California Schools

LOS ANGELES, Aug. 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 it will deliver five Type D BEAST all-electric, purpose-built, zero-emission school buses to two school districts in California this week.

"Delivery of our all-electric Type D BEAST school buses in California this week shows the continued preference for GreenPower's purpose-built product in the marketplace," said Paul Start, GreenPower Vice President of Sales – School Bus Group. "GreenPower remains the only OEM to manufacture both a Class 4 purpose-built Type A all-electric school bus in its Nano BEAST and a Type D all-electric, purpose-built school bus in its BEAST. This product combination allows school districts to meet its student transportation needs, all while taking full advantage of state incentives and programs."

Of the five BEASTs to be delivered this week, four will go to the Cutler-Orosi Joint Unified School District and the fifth to the Terra Bella Union Elementary School District. "We are pleased that these school districts see the great health and safety benefits provided by GreenPower's all-electric, purpose-built, zero-emission school buses in meeting the transportation needs of their students," Start continued. "As with other school districts in California and across the nation, these schools have a mission of providing safe and efficient transportation to their students. GreenPower's all-electric school buses provide that safe, sustainable and sensible transportation option that gets kids to and from school in a healthy environment prepared to learn."

In addition to this week's deliveries, in the next few weeks GreenPower plans to deliver up to four more Type D BEAST all-electric, purpose-built, zero-emission school buses to California schools, and two BEASTs to schools in Oregon, with up to an additional 20 school buses expected to be delivered in California over the next 90 to 120 days.

GreenPower's BEAST is a purpose-built 40-foot Type D all-electric, zero-emission school bus with seating for up to 90 students. Designed from the ground up, it is a unified structure that features a seamlessly integrated aluminum body made from extruded aluminum manufactured by Constellium on a high strength steel Truss (bus) chassis. The complete flat floor design allows for tracking with no obstacles, and the high floors keep students out of the crash zone. Dual port charging is standard with Level 2 rates up to 19.2 kW and DC Fast Charging rates up to 85 kW. Wireless charging is also available as an option.

The Type D BEAST and Type A Nano BEAST are both eligible for California HVIP vouchers and qualify for grants under the California Zero-Emission School Bus and Infrastructure (ZESBI) program. ZESBI grants pair zero-emission (ZE) school bus vehicle funding offered by the California Air Resources Board (CARB), with charging infrastructure funding offered by the California Energy Commission (CEC). A total of $500 million is appropriated by Senate Bill (SB) 114 for ZESBI for Fiscal Year 2023-24. Of that amount, $375 million is allocated to support the replacement of old school buses with ZE school buses and $125 million is allocated to support complementary infrastructure and associated costs. ZESBI utilizes a joint application for vehicles and infrastructure. The joint application will close on Monday, September 30, 2024 at 5:00 pm Pacific Time.

Contacts:

Fraser Atkinson, CEO

[email protected]

Paul Start, Vice President of Sales – School Bus Group

[email protected]

Mark Nestlen, Vice President of Business Development & Strategy

[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.  ©2024 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company