GreenPower Motor Company Receives Second Order from Top Rated University; Purchase Supported by Funding from VW Mitigation Settlement
Los Angeles, California, November 24, 2020 – GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of zero emissions electric powered medium and heavy duty vehicles, announces that the University of California, Los Angeles (“UCLA”) will add a third EV Star to their fleet.
The first two GreenPower EV Star Min-E shuttles ordered by UCLA Transportation are being used by UCLA Health and are transporting patients and visitors, as well as staff and faculty working at the medical centers. The third unit will be used for Bruinaccess which is a complimentary paratransit service provided by UCLA for qualified individuals curb to curb rides from most points on or near campus. The initial order was delivered in the summer of 2020 and has received incredibly positive feedback from the operators and fleet managers. The third unit was delivered in the early part of November. Part of the EV Star purchase was covered by the California VW Mitigation settlement which covers up to $160,000 of the vehicle cost and requires the scrapping of a model year 2009 with a GVWR of over 14,000 lbs.
Ryne Shetterly, Vice President of Sales and Marketing at GreenPower commented, “This is our fifth customer within the GreenPower Motor Company customer portfolio that has placed a follow-on order after running our EV star for an initial evaluation period.” Mr. Shetterly continued, “UCLA is one of the most prestigious universities in the country and we look forward to continuing to assist them in their transition towards a zero emissions fleet.”
Brendan Riley, President of GreenPower added, “This follow-on order with UCLA represents our first use of VW Mitigation settlement to facilitate the purchase of an EV Star. Our goal at GreenPower is to leverage every possible incentive while available and this transaction highlights the increasing diversity of programs we are utilizing.” Mr. Riley concluded, “I think it goes without saying that it is a tremendous honor to see GreenPower EV Stars serving the UCLA campus.”
For further information contact:
Brendan Riley
President
(510) 910-3377
Ryne Shetterly
Vice President of Sales and Marketing
(909) 954-7530
Mike Cole
Investor Relations
(949) 444-1341
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, a cargo van and a double decker. GreenPower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions. GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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. 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 or are beyond GreenPower’s control. 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 in U.S. dollars.© 2020 GreenPower Motor Company Inc. All rights reserved.
