- GreenPower Motor Company Inc (NASDAQ:GP) has entered into a lease/purchase agreement for a manufacturing facility in South Charleston, West Virginia, for manufacturing zero-emission, all-electric school buses.
- Under the agreement, the state of West Virginia has committed to purchase a minimum of $15 million of GreenPower vehicles produced at the facility.
- GreenPower has entered into a lease/purchase agreement to acquire properties in South Charleston totaling 9.5 acres and an 80,000 square foot building.
- The lease terms require no cash upfront, and monthly lease payments begin nine months after production begins.
- GreenPower plans to begin manufacturing zero-emission, all-electric school buses in the facility by the second half of 2022.
- Price Action: GP shares are trading lower by 0.81% at $7.33 on the last check Wednesday.
