LOS ANGELES, Feb. 11, 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
that it has entered into an exclusive purchase agreement related to
Cutaway minibuses and Type B and C Recreational Vehicles with
Forest River, Inc. ("Forest River"), a Berkshire Hathaway company
(NYSE: BRK.A), for up to 150 GreenPower EV Star Cab and Chassis
("EV Star CC"). The purpose-built all-electric EV Star CC
will be used in a new line of Forest
River zero-emission product offerings. Greenpower expects to
deliver the first six units this quarter, with the remainder
expected to be delivered over the next 36 months at a run rate that
will be determined by the third quarter of 2021.
Forest River is a leading
manufacturer in the cutaway bus, motorhome, and truck industries,
which celebrated the delivery of their 100,000th bus in
July of 2020. Forest River has over
10,000 employees and annual revenues in excess of $5 Billion. It is anticipated that the initial
deliveries of Greenpower EV Star CC units to Forest River will be directed at the cutaway
shuttle bus, commercial truck and recreational vehicle markets.
GreenPower's EV Star Cab and Chassis: Click
here
Brendan Riley, President of
GreenPower, commented, "Forest River
is a forward-thinking company that is looking to solidify their
market position long into the future by adding a purpose-built,
zero-emission offering to many of their product lines." Riley
added, "The EV Star Cab and Chassis meets the demands of many of
their addressable markets and allows Forest
River to focus on what they are experts at: building
bodies."
David Wright, President of
Forest River's bus divisions added,
"Forest River has been looking for a
purpose-built all-electric chassis that has the range and the
carrying capacity that our customers and dealers demand.
Zero-emission vehicles are where the markets are going, and the
GreenPower EV Star CC gives us the flexibility to address a variety
of unmet needs in the commercial market."
Ryne Shetterly, VP of Sales and
Marketing at GreenPower also commented, "At GreenPower, we view
this as a tremendous opportunity to enter a relationship with one
of the most highly respected and largest volume names in the
industry. Our EV Star CC will now have representation in
select Forest River distribution
channels and the amount of value that brings to GreenPower is
tremendous."
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. All amounts are in US dollars. ©
2021 GreenPower Motor Company Inc. All rights reserved.
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