Agreement Provides for 100 GreenPower Vehicles to Be
Purchased by ABC Over Next 36 Months; Partnership to Capitalize on
Lucrative Funding for Zero-Emission Vehicles in NY State;
Deliveries to Start in 2020
LOS ANGELES, Sept. 30, 2020 /CNW/ -- GreenPower Motor
Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading
manufacturer and distributor of zero emissions electric powered
medium and heavy-duty vehicles, today announced a formal dealership
agreement with ABC Bus, Inc. ("ABC") that will cover the
State of New York. The agreement
provides for 100 vehicles to be purchased by ABC over the next 36
months including the purchase of two EV Stars within thirty
days.
ABC was founded in 1950 and has 10 locations with over 500
employees across the United
States. GreenPower and ABC are poised to capitalize on the
various funding programs across the state of New York including the clean trucks NYSERDA
program and the New York Voucher Incentive Program which provides
incentives for up to $100,000 of the
purchase price for Class 4 battery electric trucks and transit
buses and up to $90,000 of the
purchase price for Class 4 battery electric school and shuttle
buses.
"The State of New York has set
an ambitious goal of being carbon neutral by 2050.
Transportation is the low hanging fruit and New York can immediately begin making progress
towards this goal by deploying GreenPower zero emissions vehicles
within their fleets," stated Brendan
Riley, President of GreenPower. "By partnering with
ABC in this territory, our future customers will be taken care of
by one of the most respected transportation solutions providers in
the country. We are excited to hit the ground running with
initial deliveries beginning this year and expected to accelerate
thereafter in early 2021."
Part of the NYSERDA and the New York Voucher Incentive Programs
require a physical location and service support component to be
eligible to access funding. After several months of working through
the logistics of bringing on a new dealer for this territory,
GreenPower and ABC are ready to begin aggressively pursuing this
market.
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, 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.greenpowerbus.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, such as whether GreenPower will be successful
in securing orders from this agreement or whether vouchers are
available at the time of the purchase of these vehicles. 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. © 2020 GreenPower Motor Company Inc. All
rights reserved.
View original
content:http://www.prnewswire.com/news-releases/greenpower-adds-abc-bus-as-authorized-dealer-in-ny-market-301141791.html
SOURCE GreenPower Motor Company