GreenPower Motor Company announced that its EV Star platform—used for cargo vans, shuttles, and school buses—has been approved for more than $90,000 in incentives under the reopened New Jersey Zero‑Emission Incentive Program (NJ ZIP). The approval, effective November 24 2025, allows the company to offer fleet operators a base voucher of $65,000 plus stackable bonuses that can push total incentives above $90,000 for Class 4 vehicles.
The NJ ZIP program, which was reopened with $75 million in total funding split into two $37.5 million rounds, entered Phase 3 on the same day. The program targets medium‑ and heavy‑duty zero‑emission vehicles, and GreenPower has been an approved manufacturer since 2023. The new incentive eligibility aligns the EV Star platform with the program’s focus on reducing upfront costs for state‑mandated electric school buses and commercial fleets.
By lowering the net purchase price for fleet operators, the incentive is expected to increase the attractiveness of the EV Star line and support the company’s sales pipeline. GreenPower plans to accelerate production at its West Virginia and California facilities, where it already manufactures the platform, to meet anticipated demand in states with strong mandates and funding for electric school buses.
GreenPower’s recent financial results show a mixed picture. In the third quarter of fiscal 2025, revenue rose 35% to $7.22 million, driven by higher sales of school buses and commercial vans, but fell 13.9% year‑over‑year as legacy product demand cooled. Gross profit margin improved to 14.6% from 8.6% in the prior quarter, largely due to cost controls and a more favorable product mix. The incentive eligibility could help offset these headwinds by expanding the customer base and improving volume economics.
CEO Fraser Atkinson said the company is “well positioned to capitalize on the rapid shift toward zero‑emission fleet solutions” and that scaling manufacturing will “enable us to meet the growing demand in key markets.” President Brendan Riley added that the West Virginia plant is now producing one EV Star unit per week, with plans to double output in the coming months, a pace that aligns with the new incentive‑driven demand.
The expanded NJ ZIP eligibility positions GreenPower to capture a larger share of the growing electric school bus and commercial vehicle markets while the company continues to navigate revenue volatility and margin pressures. The incentive provides a tangible competitive advantage in states with mandates, reinforcing GreenPower’s strategy of focusing on high‑growth, high‑margin segments.
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