GreenPower Launches All-Electric School Bus Pilot in New Mexico

GreenPower Motor ( (TSE:GPV) ) has issued an update.

GreenPower Motor Company, in collaboration with the New Mexico Economic Development Department, has launched a two-year pilot project to deploy all-electric, zero-emission school buses in New Mexico. This initiative, part of the state’s Energy Transition Act, aims to transition towards a 100% zero-carbon electricity supply by 2045. The project will involve the deployment of GreenPower’s Type A Nano BEAST and Type D BEAST school buses, with the state providing $5 million in funding and potentially more if the pilot succeeds. The project will assess the viability of fast charging and the integration of electric buses into school fleets, with data collection on various performance metrics.

The most recent analyst rating on (TSE:GPV) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on GreenPower Motor stock, see the TSE:GPV Stock Forecast page.

Spark’s Take on TSE:GPV Stock

According to Spark, TipRanks’ AI Analyst, TSE:GPV is a Neutral.

GreenPower Motor’s overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and significant profitability challenges. The technical analysis suggests a bearish trend, further weighing on the score. The negative P/E ratio and lack of dividend yield contribute to a weak valuation score.

To see Spark’s full report on TSE:GPV stock, click here.

More about GreenPower Motor

GreenPower Motor Company Inc. is a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles. The company serves various markets, including the cargo and delivery market, shuttle and transit space, and the school bus sector.

Average Trading Volume: 3,531

Technical Sentiment Signal: Sell

Current Market Cap: C$13.19M

Find detailed analytics on GPV stock on TipRanks’ Stock Analysis page.