GreenPower Motor Announces Current Vehicle Production, Deliveries for the Quarter Ended December 31, 2020 and Doubling School Bus Production
VANCOUVER, BC, Jan. 13, 2021 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero-emission, electric-powered medium and heavy-duty vehicles, today announced its vehicle deliveries for the quarter ended December 31, 2020:
In addition, Greenpower provides an update on the units completed and in production as of December 31, 2020:
Brendan Riley, President of GreenPower commented, "During the most recent quarter we continued to ramp production considerably and that trend is expected to continue as we align with an anticipated increase in deliveries in the late spring and summer of 2021." Riley continued, "In the fall of 2020, we announced a production run rate of five GreenPower all-electric school buses per month which we are now increasing to 10 on the back of the strong response we are seeing in the sales channel. With regard to our EV Star, we are on track with our previous production guidance with higher volume deliveries expected in the current quarter and accelerating thereafter as the logistical constraints of the pandemic further abate. In sum, we continue to ramp aggressively and expect substantial increases in both production and deliveries across the school bus, transit, cargo and delivery and cab and chassis markets throughout 2021."
The vehicle deliveries for the third quarter and production summary as of December 31, 2020 as described herein are preliminary and subject to change. Greenpower's final deliveries for the quarter, vehicle production, and full financial results and commentary will be included in our third quarter financial statements, MD&A, and earnings release which are scheduled to be issued in February.
Greenpower's vehicle deliveries and vehicle production are measures of business performance however they should not be relied on as indicators of Greenpower's financial results or financial performance for the quarter. Greenpower's actual financial results will depend on a number of factors other than vehicle deliveries, including but not limited to cost of sales, operating expenses, foreign exchange movements, changes in capital structure and other factors.
About GreenPower Motor Company Inc.
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
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