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GreenPower Motor Company Inc., a leading electric vehicle manufacturer, announced record-setting revenue for fiscal year 2024. The company reports earnings of $34.2 million for the first nine months of FY2024, highlighting a significant 40% increase from the previous year.
The earnings jump follows the delivery of 196 electric vehicles for the nine-month period ending December 31, 2023. This robust delivery figure includes numerous EV Star models and GreenPower’s Type D BEAST and Type A Nano BEAST school buses.
Electric School Bus Demand Increases
GreenPower notes significant growth in its all-electric school bus division. “We achieved a significant milestone with the delivery of four Type A Nano BEAST school buses that were the first all-electric, purpose-built school buses manufactured in West Virginia. These Nano BEASTs are part of the 41 all-electric GreenPower school buses ordered by the state of West Virginia,” said Fraser Atkinson, GreenPower Chairman and CEO.
See also: GreenPower’s West Virginia Plant Roars to Life
The school bus division also made inroads into California, delivering nine Type D BEAST vehicles. Increased production capacity on the East Coast allows the company to fulfill burgeoning orders in West Virginia and New York. “Manufacturing capacity on the East Coast is important to the school bus division,” Atkinson noted.
Innovation and Expansion
GreenPower unveiled its Mega BEAST — a Type D school bus boasting a powerful 387 kWh battery pack and an industry-leading range of up to 300 miles on a single charge. This innovation aims to serve districts requiring vehicles with extended range capabilities.
The company reports revenue, cash flow, working capital, and deferred revenue increases. GreenPower has expanded its distribution network with new dealerships in Denver and Las Vegas.
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