Record Revenues Further Ignite Shares Of Electric Powered Vehicle Maker

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, July 21, 2020

It has been a great bounce back from the COVID induced selloff in March for GreenPower Motor Company Inc. (TSX-Venture:GPV) (OTCQB:GPVRF) with the company continuing its rally that has seen share price gains accelerating since late-June. Today alone, the company added another $0.10 to its share price (by mid-day) on news that the designer, manufacturer, and distributer of zero emissions electric powered vehicles reported annual revenues of $13.5 million compared to $6.1 million for the previous year, an increase of 122%.

Revenue for the year was generated from the sale of 38 EV Stars, 4 Synapse school buses, and 2 EV350s, the lease of 24 EV Stars, from lease income, and from the sale of parts and supplies.

GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, a cargo van and a double decker. The Companty employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions.

As mentioned off the top, shares are on the move higher today with the stock currently up 469.7% from those mid-March lows. The stock continues its epic rally with shares up another 11.9% today to $0.94 (Canadian-listed shares) at last check.

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