GreenPower Motor Plans To Manufacture Electric School Buses In West Virginia - GreenPower Motor Co (NASDAQ:GP)

GreenPower Motor Company Inc 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.