SOURCE: GreenPower Motor Company Inc.

GreenPower Motor Company Inc.

December 15, 2016 09:00 ET

California Air Resources Board approves GreenPower's EV550 for HVIP voucher

VANCOUVER, BC--(Marketwired - December 15, 2016) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) (OTCQB: GPVRF) ("GreenPower") announces that its EV550 45 foot all-electric double decker bus has been approved by the California Air Resources Board ("CARB") and is eligible for a Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project ("HVIP") for $95,000 for each EV550 sold in the State of California and an additional $15,000 where the bus is deployed in a disadvantaged community.

"GreenPower's all-electric double decker bus is a game changer," said Brendan Riley, President of GreenPower. "With seating for 100 passengers on a bus that is 45 feet in length, this is more than double the seating capacity of a traditional 40 foot transit bus. The EV550 is also a very diverse product: Transit operators can show case their city, tourist or shuttle operators can move a significant number of people in comfort, and technology companies can provide transportation for their staff with a bus configured specifically for their workers' needs."

The 2017 model year EV550 was approved in conjunction with the California Environmental Protection Agency ("CalEPA") as a heavy-duty electric vehicle. Consequently, CARB has approved the designation of the EV550 as an electric heavy-duty vehicle which can be sold in California.

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body. GreenPower's bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors. GreenPower sources and integrates key vehicle components from global suppliers, such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. 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.greenpowerbus.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to GreenPower's operations, the cost of a traditional diesel bus, the fuel savings and reduced maintenance costs derived from operating GreenPower's EV350, or to the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower's control. A number of important factors including those set forth in other public filings 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars. © 2016 GreenPower Motor Company Inc. All rights reserved.

Contact Information

  • For further information contact:
    Fraser Atkinson
    Chairman
    (604) 220-8048