GREENPOWER MOTOR Co INC. (NASDAQ: GP)

GreenPower Motor Company Inc. designs builds and distributes a full suite of electric medium and heavy duty vehicles including transit buses school buses shuttles cargo vans and cab and chassis platforms. The company operates in the electric vehicle manufacturing industry focusing on zero emission transportation solutions for public and private fleets. Its primary operational facilities are located in southern California and West Virginia with a corporate office in Vancouver Canada. GreenPower aims to provide battery electric vehicles that reduce operating costs and help customers meet environmental regulations.

GreenPower generates revenue primarily through the sale and lease of its electric vehicles to customers directly and through a network of dealers across the United States and Canada. Revenue streams include vehicle sales lease financing and related aftermarket services such as parts supply and maintenance support. The company serves transit agencies school districts commercial operators and government entities seeking clean transportation options. In addition GreenPower monetizes its manufacturing capacity by offering contract production for third party designs and by leveraging government incentive programs that subsidize vehicle purchases for eligible buyers.

The company operates through the following segments.

• School Bus Line: This segment designs and builds all electric school buses including the Type D BEAST the Mega BEAST and the Nano BEAST Type A offering zero emission transportation for student routes with features such as high strength monocoque construction extended battery range up to 150 miles per charge TM4 electric drivetrain rated for 1,000,000 kilometers and J1772 Level 2 charging capability.

• Commercial Goods Line: This segment produces electric cargo vehicles built on the EV Star platform such as the EV Star Cab and Chassis EV Star Cargo EV Star Cargo Plus EV Star Stakebed Truck EV Star Utility Truck EV Star Cargo Plus Refrigerated Truck EV Star Cargo Refrigerated Van and the EV Star REEFER X providing zero emission solutions for delivery logistics and utility work with a range of up to 150 miles per charge standard J1772 2 and CCS DC fast charging and options for autonomous operation and wireless charging.

• Commercial Passenger Line: This segment offers electric passenger vehicles including the EV Star Passenger Van EV Star Mobility Plus the EV250 low floor transit bus the EV350 low floor transit bus and the EV550 double deck bus serving transit agencies shuttle operators and other passenger transport needs with low center of gravity design stainless steel battery trays for easy maintenance Siemens traction motors battery capacities ranging from 260 to 500 kilowatt hours and charging times as low as 2 hours using standard or ultra fast chargers.

GreenPower Motor Company Inc. holds a niche position in the North American electric bus market as one of the few manufacturers offering purpose built chassis and body integration for medium and heavy duty vehicles. Key competitors include BYD Proterra Lion New Flyer Blue Bird Workhorse Chanje Lightning XOS and Motiv. The company’s competitive advantages stem from its clean sheet design Altoona test score of 92.2 Buy America compliance and eligibility for various federal state and local incentive programs that lower the total cost of ownership for fleet operators. Additionally GreenPower benefits from a vertically integrated supply chain after acquiring Lion Truck Body which enables in house production of truck bodies and reduces reliance on external suppliers.

The company’s customer base includes transit agencies such as Sacramento Regional Transit and the City of Porterville school districts like the University of California San Francisco commercial operators including the Port of Oakland Airline Coach Services Green Commuter and Sacramento Regional Transit and corporate partners such as Workhorse Group Inc. GreenPower also serves government entities exemplified by the Greater Victoria Harbour Authority CVS Cruise Victoria Ltd. San Diego Airport Parking the state of West Virginia and the New York State voucher program which have purchased or leased its electric buses trucks and vans. In Canada the company supplies vehicles to municipal transit operators in British Columbia and Ontario further diversifying its revenue streams across the public and private sectors.