GreenPower Motor Company (NASDAQ: GP), a manufacturer of medium- and heavy-duty EVs, has delivered 10 units of its EV Star Cab and Chassis to shipping service WeShip. The two companies secured California HVIP vouchers in the amount of $66,000 per vehicle, and GreenPower provided lease financing to fund the remainder of the purchase price.
GreenPower’s EV Star Cab and Chassis accommodates a wide variety of mid- and last-mile vehicles, combining a body of the customer’s choosing with GreenPower’s chassis. It offers a carrying capacity of up to 7,000 pounds and a range of 150 miles.
GreenPower builds a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles and cargo vans. The company uses global suppliers for key components, including 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,” says the company.
“We anticipated substantial demand would emerge this summer and fall with low lead times desired by customers. In response, we built substantial inventory across our product lines,” said GreenPower President Brendan Riley. “If you look at the turnaround time from purchase order through funding request and final delivery, you will see that nobody else in the space has demonstrated that type of efficiency.”
“This [sale] represents the first delivery leveraging California’s 2021 HVIP program,” said VP of Sales and Marketing Ryne Shetterly. “The re-opening of the HVIP program on June 6th has served as a significant sales catalyst across multiple GreenPower product lines, and we expect associated deliveries to accelerate further in the coming months.”
Source: GreenPower Motor Company