1. GreenPower's EV Star products eligible for up to $130,000 in incentives. 2. HVIP program reopened with over $140 million in funding available. 3. Medium and large fleets are prioritized for voucher applications. 4. Small businesses can secure significant financial support for EV purchases. 5. Efficient funding allocation is critical for fleet operators.
FAQ
Why Bullish?
The reopening of the HVIP program is likely to boost sales for GreenPower. Previous incentive programs often led to increased demand for EV manufacturers.
How important is it?
Incentives can catalyze demand for GP's vehicles, directly impacting revenue forecasts. Positive sentiment can also enhance stock valuations based on market perceptions.
Why Short Term?
The immediate availability of incentives can drive quick sales boosts. Past funding rounds were rapidly consumed, suggesting urgency among potential buyers.
LOS ANGELES, Dec. 16, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ:GP) ("GreenPower"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced that its EV Star line of products are eligible for up to $130,000 in incentives under the Clean Truck and Bus Voucher Incentive Project (HVIP). The HVIP program reopened today with more than $140 Million in available incentives.
GreenPower has a full lineup of Class 4 all-electric, purpose-built, zero-emission commercial vehicles eligible for the incentives including the EV Star Passenger Van, the EV Star Mobility Plus, the EV Star ReeferX, the EV Star Cab & Chassis, the EV Star Stakebed Truck and the EV Star Utility Truck, among other options.
The new round of Standard HVIP funding opens more than $140 million to fleets of all sizes. Fleets with 20 or more medium and heavy-duty vehicles are eligible for base vouchers of $60,000 per Class 4 zero-emission vehicle, with the ability to hold up to 20 unredeemed vouchers at a time. Funding will be available on a first-come, first-served basis, and past funding rounds have depleted fast, so fleets should have their documentation ready and be prepared for a dealer to submit voucher requests as soon as the window opens.
Small business fleets defined as private operators with 20 or fewer medium and heavy-duty vehicles and less than $15 million in annual revenue, remain eligible for vouchers of up to $130,000 per Class 4 zero-emission commercial vehicle. Under the Innovative Small E-Fleet (ISEF) program, which supports flexible, lower-risk pathways for smaller operators to adopt zero-emission vehicles, $20 million will be available. ISEF funding can be used for innovative solutions such as short-term leases, vehicle rentals, truck-as-a-service models and bundled offerings that include charging support, helping fleets overcome early cost and infrastructure hurdles.
"GreenPower offers a full lineup of commercial, all-electric, purpose-built, zero-emission vehicles to fit a wide range of fleet needs," said Nahui Olin, GreenPower Vice President of Business Development & Commercial Operations. "Passenger models, including the EV Star Passenger Van and EV Star Mobility Plus, are available now with multiple seating and ADA configurations. GreenPower's commercial cargo, goods, and refrigerated vehicles, built on the proprietary EV Star Cab & Chassis, are also available for immediate delivery. Fleets can choose from box trucks, refrigerated units, utility and stake bed trucks and other upfit options. We are happy and ready to work with customers and their upfitters to build a vehicle that fits their exact requirements"
With funding expected to move quickly, fleets that have been waiting for new Standard HVIP funding should act now to improve their chances of securing support. Medium and large fleets with 20 or more medium and heavy-duty vehicles face especially high demand since Standard HVIP funding covers multiple vehicle classes and is open to fleets of all sizes. "If your fleet has been waiting for funding to reopen, now is the time to move. Being prepared on day one makes a real difference in securing funding before it runs out," Olin concluded.
For further information on GreenPower's EV Star line of products and on maximizing the use of the HVIP incentives, contact Nahui Olin at nahui.o@greenpowermotor.com.
For further information contact:
Nahui Olin, VP Business Development & Commercial Operations
Nahui.O@greenpowermotor.com
Brendan Riley, President
(510) 910-3377
Fraser Atkinson, CEO
(604) 220-8048
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. 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.greenpowermotor.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 "upon", "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. A number of important factors including those set forth in other public filings Company's public documents including those filed on SEDAR+ at www.sedarplus.ca and with the United States Securities and Exchange Commission filed on EDGAR at www.sec.gov 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.
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SOURCE GreenPower Motor Company