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GreenPower Motor Company Inc
GreenPower Motor Co., Inc. engages in the design, manufacture, and distribution of electric powered vehicles for commercial markets. The company is headquartered in Vancouver, British Columbia and currently employs 55 full-time employees. The company went IPO on 2011-06-15. The firm designs, builds and distributes a 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. The company manufactures Class four-eight commercial, heavy-duty bus vehicles for products ranging from a 25-foot Min-eBus to a 45-foot double decker bus. The firm's products include EV Star, EV Transit Bus Line and BEAST Type-D School Bus. EV Star Min-E bus is a multi-utility electric vehicle capable of a range up to 150 miles on a single charge. The EV battery-electric transit bus line features multiple models that include the 30-feet EV250, the 40-feet EV350, and the double decker EV550. The Type-D School Bus is marketed under the trade name Battery Electric Automotive School Transportation (BEAST).
GreenPower Motor Co., Inc. engages in the design, manufacture, and distribution of electric powered vehicles for commercial markets. The company is headquartered in Vancouver, British Columbia and currently employs 55 full-time employees. The company went IPO on 2011-06-15. The firm designs, builds and distributes a 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. The company manufactures Class four-eight commercial, heavy-duty bus vehicles for products ranging from a 25-foot Min-eBus to a 45-foot double decker bus. The firm's products include EV Star, EV Transit Bus Line and BEAST Type-D School Bus. EV Star Min-E bus is a multi-utility electric vehicle capable of a range up to 150 miles on a single charge. The EV battery-electric transit bus line features multiple models that include the 30-feet EV250, the 40-feet EV350, and the double decker EV550. The Type-D School Bus is marketed under the trade name Battery Electric Automotive School Transportation (BEAST).
Revenue Growth: GreenPower reported Q3 revenue of $7.2 million, up 35% from the prior quarter and ahead of analyst expectations.
Gross Profit Improvement: Gross profit rose to $1.05 million (14.6% margin), benefiting from increased sales of BEAST and Nano BEAST school buses.
Production Scaling: West Virginia facility is ramping up, now set to deliver 1 BEAST bus per week, moving to 2 per week by April, alongside Nano BEAST output.
Cost Controls: SG&A expenses dropped by $443,000 (7.8%) year-over-year, helped by lower professional fees and salaries.
California Consolidation: Operations in California are being combined into a single larger facility in Riverside, expected to drive efficiency and cost savings.
Strong Demand: Management highlighted increasing demand for electric school buses, supported by state and federal incentives.
Analyst Praise: Analysts noted the quarter was a beat versus expectations, and expressed positive sentiment around company momentum.