GreenPower Motor Co Inc. (NASDAQ: GP), a manufacturer specializing in truck and bus bodies, on Thursday, detailed executive compensation for the fiscal year ended March 31, 2024.
The filing included the executive compensation report as part of its required monthly updates for foreign private issuers.
GreenPower, headquartered in Vancouver, British Columbia, is known for its focus on environmentally friendly transportation options, specifically electric-powered vehicles.
In other recent news, TD Cowen has maintained a Hold rating on the company, drastically reducing the stock's price target from $3.00 to $0.25 due to ongoing liquidity issues and disappointing revenue. Complications with HVIP vouchers have caused delays in deliveries, preventing the company from recognizing revenue and heightening investor concerns about the company's financial stability.
In its Q2 2024 financial results, Workhorse reported sales of $800,000, primarily from lower W4 CC vehicle sales, and a cash balance of $5.3 million. Despite slower EV adoption rates and delays in funding incentives, the company remains optimistic about the long-term EV market. Workhorse has implemented strategic collaborations and cost-reduction measures, focusing on commercial fleet demand.
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