SANTA TERESA, N.M. – GreenPower Motor Company Inc. (NASDAQ: GP) (“GreenPower” or the “Company”) a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today cited New Mexico’s electric vehicle ecosystem, the Santa Teresa Foreign Trade Zone designation and financial incentives offered by the state as reasons the Company has announced plans to open a manufacturing facility in New Mexico.
“This is a big win for New Mexico,” said U.S. Senator Martin Heinrich. “After hosting a congressional briefing with GreenPower on strengthening domestic EV supply chains, it was clear that building these electric heavy-duty vehicles in America means creating high-quality jobs and staying competitive in the race for the future of transportation. I’m proud that this partnership helped bring GreenPower’s manufacturing, servicing and operations to New Mexico — creating 340 permanent jobs in Santa Teresa and delivering cleaner air for our kids.”
“We are excited about yesterday’s announcement of an agreement with the state of New Mexico for the establishment of GreenPower’s new manufacturing facility in Santa Teresa, New Mexico,” said Fraser Atkinson, CEO of GreenPower. “The Company looks forward to working closely with local stakeholders, government leaders and financial partners to create new jobs, drive economic development and accelerate the transition to zero-emission transportation in New Mexico and beyond. Being part of a larger ecosystem in the electrification of transportation for the region will ensure a successful and economically strong manufacturing presence in the state.”
“We are proud to welcome GreenPower to Doña Ana County and the Santa Teresa region,” said Scott Andrews, Doña Ana County Manager. “This announcement reflects the power of collaboration, between local government, the state of New Mexico, the New Mexico Partnership, Mesilla Valley Economic Development Alliance and the Border Industrial Association — working together to create an environment where innovative manufacturers can thrive. GreenPower’s investment reinforces our region’s role as a leader in advanced manufacturing, clean transportation and cross-border trade.”
In May 2025 New Mexico entered into a contract to help achieve its fleet mandate which requires all state agencies to buy zero-emission vehicles when available, with the entire state fleet being zero-emission by 2035. The contract will help electrify more than 5,000 state fleet vehicles through EVaaS (Electric Vehicles as a Service) with a turnkey electrification solution. A separate contract, also awarded in 2025, makes a $400 million investment over four years to provide comprehensive EV fleet electrification, supporting the state’s zero-emission goals by electrifying more than 2,000 school buses and 3,500 state transit and “white fleet” vehicles, deploying charging infrastructure and integrating V2G technology, all under New Mexico’s “Electrify New Mexico” initiative.
“The state of New Mexico has established several policies and programs designed to aggressively promote the adaption of zero-emission vehicles,” Atkinson continued, noting major contracts and requirements have been put in place in the state. “GreenPower’s redesigned capital, assembly and distribution goals fit perfectly within the state’s direction allowing us to benefit from both manufacturing and deployment strategies.”
A strategic investment totaling $14.6 million was committed by the state to provide the financial incentives necessary for the establishment of the new manufacturing facility and was a major factor in the Company’s decision to locate a new facility in New Mexico. Of the total $5 million was offered through the New Mexico Local Economic Development Act (LEDA) program which helps local governments support businesses locating in the state, focusing on job creation and economic growth through public-private partnerships. Additionally, GreenPower will receive $4.6 million in job training incentive funds (JTIP), $1.36 million in Rural Jobs Tax Credit (RJTC) and $3.65 million as part of New Mexico’s High-Wage Jobs Tax Credit program.
The Santa Teresa Borderplex is a rapidly growing economic zone in southern New Mexico, centered around the Santa Teresa Port of Entry, a key U.S.-Mexico trade hub with major rail links (Union Pacific, BNSF) connecting to ports like Long Beach and Houston. It’s a hub for manufacturing, logistics and advanced tech, where significant state investment has been made in infrastructure, like the Border Highway Connector.
“Santa Teresa’s designation as a Foreign Trade Zone offers substantial benefits for GreenPower,” Atkinson stated. “The FTZ allows us to streamline customs procedures and cost-effective import and export operations. Most importantly it allows the Company to take financial advantage of the designation related to inventory, parts and distribution. The ability to make capital decisions without fear of tariff uncertainties is a game changer in the current environment.”
GreenPower anticipates setting up operations at the facility in Q1 of 2026 and take possession of the manufacturing plant June 1, 2026.
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. For further information go to www.greenpowermotor.com.
The post Company Cites Electric Vehicle Ecosystem, Foreign Trade Zone & Financial Incentives as Reasons for New Mexico Facility appeared first on School Transportation News.
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