Parsippany, New Jersey, April 21, 2023 – 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 that the New Jersey Zero-Emission Incentive Program (NJ ZIP) is open and available statewide. These financial incentives will further the adoption of all-electric vehicles in New Jersey by helping fleets to transition to battery-electric vehicles.
NJ ZIP is a $90 million voucher program launched by the New Jersey Economic Development Authority for medium and heavy-duty zero-emission vehicles. GreenPower is an approved NJ ZIP manufacturer which allows GreenPower’s New Jersey customers to order vehicles under the voucher program. The vouchers range from a base of $65,000 for GreenPower’s EV Star vehicles up to $218,750 for the Type D all-electric BEAST school bus. NJ ZIP offers additional vouchers of 25% of the base voucher amount for small businesses, 10% for overburdened communities and 4% for other eligible businesses.
“GreenPower’s EV Star lineup of products is in strong demand under the New Jersey ZIP program,” said Claus Tritt, Vice President of Medium Duty & Commercial Vehicle Sales at GreenPower. “Our participation as an approved manufacturer allows GreenPower to help the program reach its all-electric adoption acceleration and zero-emission goals.”
The EV Star platform is comprised of several purpose-built, multi-utility, zero-emission vehicles with a battery pack of 118 kWh, a payload of up to 6,500 pounds and a range of 150 miles. The EV Star platform includes a range of GreenPower passenger vehicles and cargo vehicles for mid and last-mile delivery needs. The EV Star can charge up to 19.2kW using a Level 2 charger, or at a higher rate using a DC fast charger.
“GreenPower remains committed to providing a better, cleaner and safer transportation future,” Tritt continued. “Our knowledge and expertise in successfully working with such impactful incentive programs like NJ ZIP puts GreenPower in a position to help its customers and others navigate through the voucher program for maximum impact.”
Interested parties should contact sales@greenpowermotor.com for additional information on leveraging the vouchers to purchase GreenPower’s all-electric, purpose-built vehicles or to request assistance navigating the voucher application process.
Contacts
Claus Tritt
Vice President of Medium Duty & Commercial Vehicle Sales
Claus.t@greenpowermotor.com
Allie Potter
Skyya PR for GreenPower
(218) 766-8856
greenpower@skyya.com
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 van, 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 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 are in U.S. dollars © 2023 GreenPower Motor Company Inc. All rights reserved.
