GreenPower Motor Company Inc. (NASDAQ:GP) Q2 2024 Earnings Call Transcript

Fraser Atkinson : Well, we have had — we have had customers outside of West Virginia that are looking for the production out of West Virginia to fulfill their requirements. So we’re already at a stage from a sales point of view in terms of identifying and quantifying what we’re going to need to do for the East Coast. So that’s why we — initially, we’re looking at South Charleston facility as being predominantly fulfilling requirements we could see in the short term with West Virginia, but that’s already expanding to other markets on the East Coast.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Fraser Atkinson for any closing remarks.

End of Q&A:

Fraser Atkinson : At the beginning of today’s call, we talked about the importance of being positioned in the medium and heavy-duty EV space to be able to fully benefit from key mandates. GreenPower strategy is to be able to take full advantages of 2 such mandates. For the mandates in 5 states to electrify school buses, including the 2 big markets of New York and California, number one, we have the full range of all electric school buses, including the recent launch of the Mega BEAST for a second Type D along with multiple configurations for our Type A Nano BEAST, to fulfill almost all the requirements of the school districts have. Number two, we have strong dealers in each of California and New York. Number three, we’ve spent the last 2 years locating a facility, tooling and commencing the school bus production in West Virginia for customers up and down the East Coast.

For the California advanced clean truck regulation, that will require 15% of certain fleets to be all electric by next year. Number one, we can build a completed box truck in 30 to 60 days compared to other outsourced body builders that take at least 6 to 9 months. And the customer has — doesn’t have to deal with multiple companies. Number two, GreenPower’s innovation has brought a number of products to market, such as our refrigerated box truck. Number three, we have our own cabin chassis with the EV Star CC on hand, ready to fill customer requirements. And as close as always says within this space, we are truly a one-stop shop. In conclusion, we positioned ourselves for not 1 but 2 generational mandates that will drive growth for our school bus and our commercial vehicle groups.

This concludes our call. We thank you for your support.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.