VANCOUVER, Canada,  – GreenPower Motor Company Inc. (Nasdaq: GP) (“GreenPower” and 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 announced that the Company has received formal notice from The Nasdaq Stock Market LLC (“Nasdaq”) confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1), the “Equity Rule,” and otherwise satisfies all applicable criteria for continued listing on The Nasdaq Capital Market.

“Over the past few months GreenPower has completed a series of transactions including raising new capital with an equity offering of Series A Convertible Preferred Shares for up to $18 million, term loans of $5 million and a new banking relationship with CIBC including a line of credit and term loan. In addition, the Company exchanged $7 million of related party loans for convertible debentures and $3 million of related party loans for Series B Convertible Preferred Shares,” said Fraser Atkinson, CEO of GreenPower. “These transactions have helped the Company regain full compliance with the Nasdaq listing criteria as well as with the execution of our strategic goals.”

Notwithstanding the Nasdaq compliance determination, the Company will remain subject to a Panel monitor for one year. If, within that one-year monitoring period, Staff finds the Company again out of compliance with the Equity Rule that was the subject of the hearing, the Company will be subject to a delisting determination and will not have the opportunity to present a compliance plan for the Staff’s consideration. However, the Company will be afforded the opportunity to request a hearing before the Hearings Panel, and the hearing request will automatically stay any suspension or delisting action pending the conclusion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.

The Company’s common stock will continue to trade on Nasdaq under the ticker symbol “GP.”

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 GreenPower Regains Compliance with Nasdaq’s Equity Requirement appeared first on School Transportation News.

VANCOUVER, Canada  – GreenPower Motor Company Inc. (Nasdaq: GP) (“GreenPower” and 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 reported revenue of $8.5 million and net income of $4.2 million as a part of its financial results for the period ended December 31, 2025.

“Despite significant headwinds in the EV sector in general, GreenPower has made substantial strides with its transition from building EVs on spec., to a production strategy driven by building EVs to customer orders.” said Fraser Atkinson, GreenPower Chairman and CEO. “This transition has required recapitalization of the Company, retooling our manufacturing, managing inventory, and obtaining sources of production funding.”

“GreenPower is very excited about the excellent progress in the deployment of all-electric, purpose-built school buses during the last quarter in New Mexico; Continuing to perform on the state sponsored, two-year, zero emissions school bus pilot project.” said Brendan Riley, President of GreenPower. “This project uses the compelling West Virginia pilot project as its model but is focussed on the specific needs of New Mexico school districts where there will be challenges on deploying in both city and rural settings, challenges with charging infrastructure and operating the school buses in extreme cold weather at high elevations.”

Third Quarter 2026 Highlights
Generated revenues of $8.5 million in the third quarter of the 2026 fiscal year compared to $7.2 million for the third quarter in the previous year. Revenue was generated from the sale of vehicles, parts, leases and deferred income. Gross profit on the sale of vehicles was approximately 28%.

Total sales, general and administrative costs of $2.4 million in the third quarter compared to $5.2 million for the third quarter in the previous year representing a significant reduction in the Company’s recurring expenses. Excluding non-cash items, the sales, general and administrative costs in the current quarter were less than $2 million.

Working capital of more than $5 million and increased cash from the beginning of the fiscal year.

During the quarter the Company undertook the management of the New Mexico All-Electric, Purpose-Built, Zero-Emission School Bus Pilot Program. The contract with the state of New Mexico provides funding of more than $5 million for the deployment of GreenPower’s all-electric Type A Nano BEAST, Type A Nano BEAST Access, Type D BEAST and Type D Mega BEAST school buses, charging infrastructure and management of a pilot project in the state.

During the quarter the Company raised gross proceeds of $1,120,050 from the issuance of Series A convertible preferred shares (the “Series A shares”) with a stated value of $1,179,000. The initial tranche was comprised of 754 Series A shares issued pursuant to an effective shelf registration statement and 425 Series A Shares issued in a concurrent private placement. The Company and investor agreed that a follow-on tranche of 926 Series A Shares with a stated value of $926,000 and purchase price of $879,700 will be issued at a later date. The institutional investor has the right to acquire and the Company has the right to issue additional Series A Shares in tranches of up to $2 million, subject to certain terms and conditions, to a total of up to US$16 million

Subsequent to the end of the quarter GreenPower completed several transactions to recapitalize the Company. The Company closed on two term loans for a total of $5 million, closed on the new banking relationship with CIBC including a line of credit and Term Loan, paid out the existing bank line of credit, exchanged $7 million of related party loans for convertible debentures and exchanged $3 million of related party loans for Series B Convertible Preferred Shares.

For additional information on the results of operations for the period ended December 31, 2025 with the financial statements and related reports posted on GreenPower’s website as well as on SEDAR Plus or on EDGAR.

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 GreenPower Reports Revenue of $8.5 million and Net Income of $4.2 million for Third Quarter appeared first on School Transportation News.

VANCOUVER — GreenPower Motor Company Inc. (Nasdaq: GP) (“GreenPower” and 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 reported revenue of $8.5 million and net income of $4.2 million as a part of its financial results for the period ended December 31, 2025.

“Despite significant headwinds in the EV sector in general, GreenPower has made substantial strides with its transition from building EVs on spec., to a production strategy driven by building EVs to customer orders.” said Fraser Atkinson, GreenPower chairman and CEO. “This transition has required recapitalization of the Company, retooling our manufacturing, managing inventory, and obtaining sources of production funding.”

“GreenPower is very excited about the excellent progress in the deployment of all-electric, purpose-built school buses during the last quarter in New Mexico; Continuing to perform on the state sponsored, two-year, zero emissions school bus pilot project.” said Brendan Riley, President of GreenPower. “This project uses the compelling West Virginia pilot project as its model but is focussed on the specific needs of New Mexico school districts where there will be challenges on deploying in both city and rural settings, challenges with charging infrastructure and operating the school buses in extreme cold weather at high elevations.”

Third Quarter 2026 Highlights

• Generated revenues of $8.5 million in the third quarter of the 2026 fiscal year compared to $7.2 million for the third quarter in the previous year. Revenue was generated from the sale of vehicles, parts, leases and deferred income. Gross profit on the sale of vehicles was approximately 28%.
• Total sales, general and administrative costs of $2.4 million in the third quarter compared to $5.2 million for the third quarter in the previous year representing a significant reduction in the Company’s recurring expenses. Excluding non-cash items, the sales, general and administrative costs in the current quarter were less than $2 million.
• Working capital of more than $5 million and increased cash from the beginning of the fiscal year.
• During the quarter, the company undertook the management of the New Mexico All-Electric, Purpose-Built, Zero-Emission School Bus Pilot Program. The contract with the state of New Mexico provides funding of more than $5 million for the deployment of GreenPower’s all-electric Type A Nano BEAST, Type A Nano BEAST Access, Type D BEAST and Type D Mega BEAST school buses, charging infrastructure and management of a pilot project in the state.
• During the quarter, the company raised gross proceeds of $1,120,050 from the issuance of Series A convertible preferred shares (the “Series A shares”) with a stated value of $1,179,000. The initial tranche was comprised of 754 Series A shares issued pursuant to an effective shelf registration statement and 425 Series A Shares issued in a concurrent private placement. The Company and investor agreed that a follow-on tranche of 926 Series A Shares with a stated value of $926,000 and purchase price of $879,700 will be issued at a later date. The institutional investor has the right to acquire and the Company has the right to issue additional Series A Shares in tranches of up to $2 million, subject to certain terms and conditions, to a total of up to US$16 million.

Subsequent to the end of the quarter, GreenPower completed several transactions to recapitalize the Company. The Company closed on two term loans for a total of $5 million, closed on the new banking relationship with CIBC including a line of credit and Term Loan, paid out the existing bank line of credit, exchanged $7 million of related party loans for convertible debentures and exchanged $3 million of related party loans for Series B Convertible Preferred Shares.

For additional information on the results of operations for the period ended Dec. 31, 2025 with the financial statements and related reports posted on GreenPower’s website as well as on SEDAR Plus or on EDGAR.

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

Forward-Looking Statements

This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “upon”, “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

All amounts in U.S. dollars. ©2026 GreenPower Motor Company Inc. All rights reserved.

The post GreenPower Reports Q3 Revenue of $8.5 Million, Net Income of $4.2 Million appeared first on School Transportation News.

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.

VANCOUVER, Canada, – 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 announced that it has received credit approval from CIBC for $5 million in financing facilities, comprised of a $3 million revolving line of credit and a $2 million term loan with a three year term. Additionally, the Company has received credit approval from CIBC to enter into a letter of credit of $450,000, secured by cash collateral, and a letter of credit facility of up to $2.5 million, which is subject to approval from another financial institution. GreenPower’s transaction with CIBC is subject to finalizing documentation, as well as satisfaction of all closing conditions, and all parties are actively working towards a timely completion. In addition, GreenPower has announced that it has closed $5 million in term loans from two family offices, which have provided personal joint and several guarantees in support of these credit facilities. A portion of the net proceeds from the financings will be used to repay and close the Company’s existing operating line of credit, with the remainder used for general corporate purposes. These transactions represent an important step in the recapitalization of the Company and will allow GreenPower to accelerate production of all-electric vehicles to fulfil existing customer orders.

The Company has agreed to issue 3,205,128 non-transferable share purchase warrants (each, a “Loan Bonus Warrant”) to one of the family offices. Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company (each, a “Share”) at an exercise price of US$0.78 per Share for a period of thirty-six (36) months from the closing date of the Loan. In addition, the Company has agreed to issue to one of the family offices an aggregate of 641,025 Shares (each a “Loan Bonus Share”). The family offices are each considered to be a “related party” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and each of the loans with the family offices and issuance of Loan Bonus Warrants and Loan Bonus Shares, as applicable, is considered to be a “related party transaction” within the meaning of MI 61-101 but each is exempt from the formal valuation requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in Sections 5.5(g) and 5.7(e) of MI 61-101.

All securities issued in connection with the loans with the family offices will be subject to a statutory hold period of four months plus a day from the closing of the loan in accordance with applicable securities legislation.

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 GreenPower Announces US$10 Million Financing and US$2.95 Million in Standby Letter of Credit Facilities appeared first on School Transportation News.

SANTA FE, N.M.— Electric vehicle manufacturer GreenPower Motor Company (NASDAQ: GP) today announced they have reached an agreement with the New Mexico Economic Development Department (EDD) to establish operations in Santa Teresa, NM.

Internationally headquartered in Vancouver, Canada, with current operational facilities in southern California and West Virginia, GreenPower is 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.

The new 135,000 sq. ft. facility in Santa Teresa will become the company’s base for North American operations and US corporate headquarters. The move is estimated to generate over $200 million in economic impact for New Mexico over the next decade, creating more than 340 jobs.

The company will receive a $5 million LEDA award from the state and $4.6 million in job training incentive funds (JTIP). The company also qualified for a $1.36 million Rural Jobs Tax Credit (RJTC) and $3.65 million as part of New Mexico’s High-Wage Jobs Tax Credit program.

“Establishing GreenPower’s new manufacturing facility in Santa Teresa marks a significant milestone in our expansion and commitment to safe, sensible, sustainable transportation solutions,” said Fraser Atkinson, CEO of GreenPower. “This strategic move leverages the region’s highly skilled and dedicated workforce, which has long been recognized as a key driver of economic growth and innovation in southern New Mexico.”

Santa Teresa’s Foreign Trade Zone designation was a key factor in the company’s decision, offering streamlined customs and cost-effective trade that support efficient production and distribution of zero-emission vehicles across North America. The designation also provides access to the North American Development Bank, underscoring the project’s cross-border economic and environmental impact.

These incentives and programs enhance the company’s ability to efficiently produce and distribute zero-emission vehicles, parts and inventory throughout North America and beyond, reinforcing New Mexico’s role as a hub for green manufacturing and international commerce.

“Our decisive commitment to the goal of net zero emissions ensures New Mexico’s position as a leader in the nation’s clean energy transition,” said Governor Michelle Lujan Grisham. “With this strategic investment, we’re creating high-quality jobs and strengthening our economy while building the carbon-free energy future New Mexico’s families deserve.”

In 2025, GreenPower worked with EDD to launch the state’s first all-electric, zero-emission school bus pilot project at two Las Vegas public schools and a Santa Fe charter school. The continuing 2-year pilot program supports New Mexico’s Energy Transition Act, designed to transition the state toward the goal of 100% zero-carbon electricity supply by 2045.

“The electric school bus pilot project was an important first step in bringing GreenPower manufacturing and their high-quality jobs to New Mexico,” said EDD Cabinet Secretary Rob Black. “The real-world data and insights we are gaining from the pilot project will help inform New Mexico’s electric school bus roll-out and specifications, ensuring that fleets are safe, efficient and tailored to the unique needs of local districts.”

“Governor Lujan Grisham’s steadfast commitment to advancing zero-emission vehicles has provided a supportive policy environment that encourages companies like GreenPower to invest and innovate,” said GreenPower President Brendan Riley. “Her administration’s ambitious sustainability goals align perfectly with GreenPower’s mission to deliver clean, reliable transportation solutions, contributing to a healthier environment and a stronger state economy.”

“We know the transportation sector is the largest contributor to greenhouse gas emissions in the nation — here in New Mexico, we want to lead on policy, manufacturing and deployment of zero emissions vehicles,” said New Mexico Secretary of Transportation Ricky Serna. “GreenPower’s move to the state is an important part in helping the state achieve these important energy transition goals.”

In support of those sustainability goals, GreenPower will offer dealer-level pricing to the state for a comprehensive lineup of Class 4 all-electric, purpose-built, zero-emission commercial vehicles. The selection includes a variety of options like box trucks, refrigerated trucks, passenger vans, buses, utility trucks and stakebed trucks meeting the diverse needs of public agencies and commercial operators throughout the region.

A public press conference featuring the company’s all-electric, purpose-built, zero-emission Class 4 commercial vehicles and school buses will take place in Santa Fe during the state’s upcoming legislative session.

The post GreenPower Motor Company Chooses New Mexico for Advanced EV Manufacturing Facility appeared first on School Transportation News.