Revenue Growth
GreenPower Motor Company generated revenue of $7.2 million, a 35% increase over the previous quarter.
Gross Profit Improvement
The company reported a gross profit of approximately $1.05 million or 14.6% of revenues, indicating improvement from prior quarters.
School Bus Demand
There is increasing demand for electric school buses, driven by health concerns and driver preferences. GreenPower is positioned to meet this demand with its BEAST and Nano BEAST models.
Operational Expansion
GreenPower is consolidating its California operations into one larger facility, which is expected to lead to cost savings and increased efficiency.
Increased Production Capacity
The West Virginia facility is increasing output, with plans to produce one BEAST per week, scaling up to two units per week by April.