Published on 5 Apr 2023 on Benzinga via Yahoo Finance
GreenPower Shares Soar After $15M Order From West Virginia For All-Electric School Buses
GreenPower Motor Company Inc (NASDAQ: GP) has received a $15 million order from the state of West Virginia for 41 all-electric, purpose-built Type D BEAST and Type A Nano BEAST school buses.The state provided GreenPower with a $3 million deposit as part of the company's agreement to manufacture school buses in West Virginia.The company stated that West Virginia's purchase of GreenPower school buses follows Governor Justice's pilot project last June. About 15 school districts in West Virginia have deployed either the BEAST or Nano BEAST over the last seven months."As we migrate to the production of school buses in the West Virginia facility, there will be a need to increase the number of employees from the core group that has been working here since last year," commented Brendan Riley, President and Director at GreenPower.Riley also mentioned that GreenPower will require ~65 employees by October, and the company is on track to meet its 200 employee goal by the end of 2024.Price Action: GP shares are trading higher by 12.8% at $2.53 on the last check Thursday.Photo Via Company