GreenPower Motor Company Inc. has entered into a lease/purchase agreement for a manufacturing facility in South Charleston, West Virginia, for the purpose of manufacturing zero-emission, all-electric school buses. As part of the agreement, the state of West Virginia has committed to purchase a minimum of $15 million of GreenPower vehicles produced at the facility.
The properties in West Virginia total 9.5 acres and an 80,000 sq.-ft. building. GreenPower plans to begin manufacturing the school buses in the facility by the second half of 2022. The state will provide up to $3.5 million in employment incentive payments to GreenPower for jobs created in the state as production increases over time. Title to the properties will be transferred to GreenPower once total lease and incentive payments reach $6.7 million.
