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Investing.com -- GreenPower Motor Company Inc (NASDAQ:GP) stock rose 5.1% after the electric vehicle manufacturer announced it has secured a contract with the state of New Mexico for an all-electric school bus pilot project worth over $5 million.
The two-year pilot will deploy three Type A all-electric Nano BEAST Access school buses in the 2025-26 school year, followed by three Type D all-electric BEAST and Mega BEAST school buses in 2026-27. The contract covers vehicle purchases, charging infrastructure costs, and overall project management.
GreenPower will install charging systems, provide training for drivers and mechanics, and establish a location in New Mexico to support the implementation. The first three Nano BEAST Access buses are nearly complete and will be ready for deployment by mid-September.
The pilot will evaluate both Level 3 DC fast chargers and Level 2 slow chargers for the Nano BEAST buses in the first year. In the second year, the project will assess Level 3 DC fast charging with the BEAST buses and include a vehicle-to-grid evaluation using the Mega BEAST, which offers up to 300 miles of range on a single 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 within the New Mexico Economic Development Department.
GreenPower is partnering with Highland Electric Fleets for the charging infrastructure implementation. The pilot builds on GreenPower’s previous successful pilot program in West Virginia but focuses more heavily on evaluating charging options and infrastructure.
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