GreenPower Motor Company highlighted revenues of $4.4 million in the second quarter of its fiscal year - a 57% increase over the same period in 2020.
The company manufactures and distributes zero-emission, electic-powered vehicles in the cargo and delivery, shuttle, transit, and school bus markets.
"As we expected, vehicle deliveries accelerated near the end of our fiscal second quarter and that trend has continued into the current period," said Fraser Atkinson, CEO of GreenPower. "Sales pipeline activity continues to grow with a variety of large volume opportunities across the GreenPower product line. We have significantly expanded our sales infrastructure and network and we expect to see the benefits of that investment materialize over the next several quarters."
Among recent highlights reported by the company:
- Delivered 44 vehicles, including 34 sales and 10 leases, generating $4,441,963 in revenues compared to $2,835,411 in the same quarter last year
- Launched the BEAST Type D all-electric school bus with 90-seat capacity and delivered the first two of those buses, which passed California Highway Patrol inspection
- Earned recognition from Metro Magazine with the "Innovative Solutions" Award in recognition of the company's work with Perrone Robotics and the Jacksonville (Fla.) Transportation Authority
"To keep pace with anticipated demand, we continue to build significant inventory with nearly 260 units in various stages of production and over 70 units in finished goods at the end of the quarter," said Brendan Riley, president of GreenPower. "The receipt of our 292 Card from the California Highway Patrol allows us to accelerate deliveries of our all-electric BEAST school bus, which we expect to have a significant impact on revenues in the second half of this fiscal year. Most importantly, we continue to see substantial repeat demand from existing customers, which is a testament to the performance of GreenPower vehicles in the real-world environment."