GreenPower Receives Order for 100 Buses

GreenPower Motor Company Inc (TSXV:GPV) announced on Tuesday (June 5) that it has received an order for 100 buses from Creative Bus Sales.

The company which designs, builds and distributes a full suite of high-floor and low-floor vehicles said that order from Creative Bus was its largest to date.

“This is further validation of the compelling nature of GreenPower EV products and the acceptance of our product by the market in general,” Brendan Riley, president of GreenPower said in the release.

Creative Bus Sales is the largest bus dealer for sales, parts and service in the US and is GreenPower’s authorized representative as announced by the companies on May 31.. According to that announcement, the agreement between the two companies will be for three years with an initial order of 15 buses.

Tuesday’s order for 100 buses over 18 months includes the first15 buses for inventory and demonstration  on order with GreenPower.

“This order reflects our commitment to amazing EV buses that GreenPower designs and manufactures and our ability to sell and support them,” Tony Matijevich, president of Creative Bus Sales said.

These two announcements come on the heels of GreenPower announcing a US$2 million credit facility with BMO Bank of Montreal on May 24.

Following Tuesday’s GreenPower closed the trading at $0.65 and was up 20.37 percent over the one day trading period. Over 700,689 shares were traded on Tuesday. The stock has a buy ranking on TradingView with 17 verticals in favour and six neutral and three sell. 

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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.