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GreenPower Pulling Ahead In 2018

David Jennings profile picture
David Jennings


  • 2017 was a ground breaking year for GreenPower as they achieved regulatory approvals, introduced new bus models, secured orders, and began construction of their new factory in Porterville, CA.
  • GreenPower made the strategic decision to enter the electric school bus market and will be making their first deliveries in the summer of 2018.
  • With the introduction of the Synapse 72 school bus and the EV Star mini-bus the Company now has a complete suite of BEV bus products.
  • I provide discussion and feedback from Executive Chairman Fraser Atkinson.

GreenPower Bus Status Update

Last year was pretty tough on long term investors of GreenPower (GPVRF) as they endured a 9.2% share dilution and a 50% decline in share price without a single vehicle delivery to speak of. Nonetheless, 2017 can rightfully be summarized as the “ground breaking” year for the company as they methodically made progress on the permitting and start of construction of their new bus factory, achieved CARB HVIP voucher approvals and US EPA certification, introduced several new bus models, conducted sales tours, and received multiple orders for various bus models. With this ground work in place the quiet achievers at GreenPower are now set to embark on substantial progress in the coming year. Since mid-January 2018 the share price has increased approximately 50% with increased daily trading volume as investor confidence in the company’s potential continues to strengthen. 2018 is shaping up to be a great year for GreenPower.

Confirmed orders received in 2017 until now are as follows:

  • March 2017: City of Porterville ordered ten EV350 transit buses. First buses will commence service in March 2018, with the remaining units to be delivered by end of summer 2018.
  • October 2017: Calaveras Unified School District ordered three Synapse 72 school buses, to be delivered in summer of 2018.
  • November 2017: CVS Tours ordered two EV 550 double decker buses, with plans to purchase seven more buses over the next 3 years.
  • December 2017: LA Unified School District ordered their first electric school bus from GPV, to be delivered in the summer of 2018.
  • February 2018: Rialto Unified School District ordered two Synapse 72 school buses, to be delivered in the summer of 2018.

Synapse 72 Transit and School Bus models (source: Company website)

A significant milestone in 2017 was GreenPower’s introduction of the world’s first

This article was written by

David Jennings profile picture
Individual investor.

Analyst’s Disclosure: I am/we are long GPVRF. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (9)

David Jennings profile picture
Capital Ideas TV coverage of GPV ...
David Jennings profile picture
In my previous article I included GPV's estimated earnings chart provided for 2018-2020. I think they are currently pretty close to their estimate, but if the California school bus sales pick up they might exceed these estimates. One great thing about Creative Bus Solutions is they will purchase buses to have in inventory so that customers will not have to wait too long for deliveries. This should help the sales effort quite a bit. Forbes recently published an article saying that bus fleets will be the first to adopt battery technology. Duh. But it's nice to see the heavy movers taking notice.
@David Yes, that was nice to see come through, and obviously well received on good volume by the market. Stock is up over 50% in two days of trading.

My question, what would you have for profit targets? When it comes to a company of this size, I really don't have that much experience as I am primary a market profile trader, but they don't really have much volume to base things on. Thanks

And yes, I am long.
David Jennings profile picture
Creative Bust Solutions just ordered 100 buses for delivery over the next 18 months. Things are heating up fast for Green Power Bus.
Dave, thanks for this. Porterville is in our back yard and so is Hanford, where another EV plant is being built.
David Jennings profile picture
Porterville Newspaper article:
We are on our way up.
David Jennings profile picture
Thanks Yukoner,
There is actually a lot of good information on the GreenPower website if you wish to dig deeper into their activities and products.
Good Luck,
Good article. Thanks. Finally a release that actually has some solid information to make decisions on.

GPV does appear well positioned... can't imagine them not being a buyout target for the guys who don't have the technology, or are years behind.
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