GreenPower Receives Purchase Order for Two Electric Double Decker Buses from CVS Tours

VANCOUVER, British Columbia, Nov. 29, 2017 -- GreenPower Motor Company Inc. (TSX-V:GPV) (OTCQX:GPVRF) (“GreenPower”) has received a purchase order for two of its EV550 all-electric double decker buses from CVS Tours Ltd., a Canadian motor coach company. The purchase order follows a successful pilot project between GreenPower, CVS Tours and the Greater Victoria Harbor Authority, in which GreenPower deployed its first all electric double decker bus on the basis of a one-year lease.

GreenPower and CVS Tours are currently exploring a number of funding programs to accelerate the electrification of CVS Tours’ fleet of double decker buses.  Under the new agreement, CVS Tours will purchase up to seven additional EV550 all-electric double decker buses over the next three years.  The full purchase would result in the total electrification of CVS’s fleet of double decker buses and represent one of the largest orders from a Canadian bus operator for all-electric buses of any type. 

“I have been thrilled with the capabilities of GreenPower’s EV550 such that we are purchasing two now and up to seven over the next three years,” said CVS Tours General Manager David Roberts. “Our long-term goal is to be fully electric and zero-emission with our entire fleet of double decker buses by 2021.”

To facilitate the purchase, GreenPower worked with a third-party leasing company to create a five-year leasing program specifically designed for GreenPower’s products. GreenPower anticipates that the funding will be completed for the two double decker buses within the next month.

About GreenPower Motor Company Inc.

GreenPower Motor Company Inc. develops electric powered vehicles for commercial markets.  GreenPower offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body.  GreenPower’s bus is based on a flexible clean sheet design and utilizes a custom battery management system and a proprietary Flex Power system for the drive motors.  GreenPower integrates global suppliers for key components such as Siemens for the two drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. For further information go to www.greenpowerbus.com.

Forward-Looking Statements

This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower’s control, such as the regulations and requirements in different jurisdictions. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

For further information contact:
Fraser Atkinson, Chairman
(604) 220-8048

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. © 2017 GreenPower Motor Company Inc. All rights reserved.