SOURCE: GreenPower Motor Company Inc.

GreenPower Motor Company Inc.

March 24, 2015 14:33 ET

GreenPower Announces Production of 2015 EV350 All Electric Bus

VANCOUVER, BC--(Marketwired - March 24, 2015) - GreenPower Motor Company Inc. (TSX VENTURE: GPV) ("GreenPower" or the "Company"), announces that production is well underway on the 2015 model of the EV350 all electric transport bus. The buses are currently being manufactured at the Fengtai factory in China and will be shipped to the United States for final assembly by the end of next quarter.

The 2015 model of the EV350 features some key design changes including the relocation of one side battery pack to the rear of the bus resulting in more internal coach space allowing for up to 40 seats. The power storage capabilities of the EV350 have also been increased with faster charging times and additional range will be confirmed through road testing. There have been no changes to the operational mechanics of the 2015 EV350 ensuring that the new model remains Federal Motor Vehicle Safety Standards Compliant in the United States.

Phillip Oldridge, CEO, reports, "Having just returned from China I would like to report that the manufacturing process is going very well. The buses are currently on the production line and we expect to complete our initial production run of buses on schedule. I look forward to focusing on our sales and marketing programs in the United States over the next few months in advance of delivery."

Chairman Fraser Atkinson states, "We look forward to delivering the bus to potential customers for trials and evaluation. To date, interest in the EV350 has been significant. Our 2014 model served as an excellent validator in the marketplace and opened the doors to distributors and purchasers including private operators and municipalities across North America."

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets. In 2014 GPI launched the EV350 40 foot transit bus, which is an electric powered transit bus deploying electric drive and battery technologies with a lightweight chassis and low floor body. Presently, GreenPower is building and marketing the EV350 in North America. The EV350 utilizes a custom battery management system and a proprietary Flex Power system for the drive motors while integrating global suppliers for key components 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 design allows GreenPower's EV350 to meet the specifications of the operator 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 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. © 2015 GreenPower Motor Company Inc. All rights reserved.

Contact Information

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