Greenpower Motor Company Inc. announces plans to triple its production capabilities of its zero-emission all-electric buses. The company has leased a facility with over 50,000 sq. ft. in the City of Porterville as a manufacturing and assembly center, which will open on October 1, 2018. Initial production will focus on EV Stars and then Synapse Type-D school buses. Should the company reach full capacity, it could lease additional space to increase the size of the facility to over 90,000 sq. ft. The lease is for a term of 4 years with an option to extend the term for an additional 3 years.
“With our current order book with over 120 buses and growing, this additional facility will allow us to meet our production demand. The close proximity of this location to our current and under construction production sites also helps ensure we maintain simplified and efficient logistics,” says Brendan Riley, President of GreenPower. “We are on track to produce 25 buses per month by the end of this fiscal year.”
The company currently operates out of a 20,000-sq.-ft. facility in Porterville. This property will be retained for additional service and office space. Over the past year, the company has completed plans for the civil work, obtained a grading permit and submitted plans for the construction of a 144,000-sq.-ft. manufacturing facility on the 9.3 acres owned by the company. All three phases are scheduled to be completed by 2020, with the first phase consisting of 50,000 sq. ft. to come online next year. Total investment in the manufacturing facility is expected to be $6 million to $7 million, which the company plans on funding from operating cash flow over the next few years.
“We are excited that we are increasing our production capabilities in the City of Porterville and the San Joaquin Valley,” says Fraser Atkinson, Chairman of GreenPower. “Our plan allows us to take advantage of current sales opportunities in a cost effective manner while we develop our longer term production facility out of cash flow from operations.”
