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GreenPower Motor (TSE:GPV) Announces Record EV Deliveries, Continuing Its Rapid Expansion
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GreenPower Motor (TSE:GPV) Announces Record EV Deliveries, Continuing Its Rapid Expansion

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GreenPower Motor just announced record deliveries for its most recent quarter. Things are looking promising for the company in terms of deliveries and growth potential, and analysts are highly bullish on the stock.

GreenPower Motor Company (TSE: GPV) (NASDAQ: GP) is a manufacturer and distributor of all-electric buses. Today, GPV revealed that it delivered a record 101 fully-electric vehicles in its Fiscal Q3 (ended December 31, 2022), much higher than its 57 deliveries in Fiscal Q2. Notably, GPV delivered its first Nano BEAST Type A school bus. The company is continuing to advance and already has over 100 deliveries planned in the current quarter and expects to achieve a 2,000-vehicle order backlog. Despite the news, this EV stock is hardly up on the day.

Nonetheless, its vehicles appear promising; the type D BEAST and Type A Nano BEAST vehicles had no problem handling “winter conditions on mountainous terrains.” Additionally, GreenPower expanded its dealer network in Q3 across the U.S. and raised just under $1.1 million USD at an average price of $2.40/share in its latest quarter.

Is GreenPower Motor Stock a Buy, According to Analysts?

According to analysts, GPV stock comes in as a Strong Buy based on four unanimous Buy ratings assigned in the past three months. Interestingly, the average GreenPower Motor stock price target of C$11.10 means that analysts expect almost 300% upside potential in the next 12 months.

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