GreenPower Motor Company Inc (NASDAQ:GP) saw its stock jump 5.1% following the announcement that it secured a contract with the state of New Mexico for an all-electric school bus pilot project valued at over $5 million.
The two-year pilot program will deploy three Type A all-electric Nano BEAST Access school buses during the 2025-26 school year, followed by three Type D all-electric BEAST and Mega BEAST buses in 2026-27. The agreement includes vehicle purchases, charging infrastructure, and overall project management.
GreenPower will handle charging system installations, provide training for drivers and mechanics, and establish a local presence in New Mexico to support the initiative. The first batch of Nano BEAST Access buses is nearly complete and expected to be ready by mid-September.
The pilot will test both Level 3 DC fast chargers and Level 2 slow chargers for the Nano BEAST buses in the first year. The second year will focus on Level 3 fast charging for the BEAST buses and incorporate a vehicle-to-grid evaluation with the Mega BEAST model, which offers up to 300 miles of range per charge.
“Range, charging rates, and grid resiliency are critical components of switching to all-electric, zero-emission vehicles,” said Mark Roper, Director of the Economic Development Division at the New Mexico Economic Development Department.
GreenPower is partnering with Highland Electric Fleets to implement the charging infrastructure. This pilot builds on GreenPower’s prior successful program in West Virginia, with a stronger emphasis on evaluating charging options and infrastructure.
GreenPower Motor Company stock price
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