LOS ANGELES, May 3, 2021 /CNW/ -- GreenPower Motor
Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading
manufacturer and distributor of zero-emission, electric-powered
medium and heavy-duty vehicles, announced today that the entire EV
Star line up, including the EV Star, EV Star ADA, EV Star CarGo, EV
Star CarGo Plus, and EV Star CC are now eligible for the New Jersey
Zero Emission Incentive Program ("NJ ZIP"). The NJ ZIP incentivizes
fleets to begin their transition to zero emissions by offering up
to $100,000 towards the purchase of
battery-electric vehicles.
NJ ZIP is a new, $15 million pilot
voucher program, that supports businesses and institutions
purchasing new, medium-duty zero-emission vehicles that will
operate in the greater Newark and
greater Camden areas. This pilot
is funded by proceeds allocated to the New Jersey Economic
Development Authority ("NJEDA") for the purposes of reducing
harmful emissions, especially in communities disproportionately
impacted by transportation emissions, and creating economic
opportunity within the state. The program will provide voucher with
base values ranging between $25,000
to $100,000 per vehicle.
Brendan Riley, President of
GreenPower, commented, "We applaud the State of New Jersey for offering the most
aggressive zero emissions incentives in the country and we see many
other states and municipalities following suit with similar
programs coming to market in the near future." Riley added, "The EV
Star platform is the perfect fit for the region because of their
duty cycles, route requirements and the fact that EV Star is
completely versatile. Whether an operator is delivering cargo
or passengers, we can deliver now."
Ryne Shetterly, VP of Sales and
Marketing at GreenPower, also commented, "We have the right partner
in ABC Bus, with units currently on the ground and in inventory in
the state." He added, "Incentives help accelerate EV transition
plans for early adopters, and we expect this emerging New Jersey market to have a positive impact on
GreenPower's vehicle sales in the near term."
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. © 2021 GreenPower Motor Company
Inc. All rights reserved.
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SOURCE GreenPower Motor Company