GreenPower Motor Company has announced the construction of a 135,000‑square‑foot manufacturing plant in Santa Teresa, New Mexico, which will serve as the company’s North American operations hub and U.S. corporate headquarters. The facility expands GreenPower’s footprint beyond its existing sites in California and West Virginia and positions the company to meet growing demand for zero‑emission school buses and commercial vehicles.
The New Mexico Economic Development Department is providing $5 million in LEDA funding, $4.6 million in job‑training incentives, a $1.36 million Rural Jobs Tax Credit, and $3.65 million in high‑wage jobs tax credits, totaling $14.6 million in state incentives. The investment is projected to generate more than $200 million in economic impact over the next decade and create over 340 jobs in the region.
GreenPower’s financial profile remains challenging: the company carries a $21.2 million debt burden and reported negative EBITDA of $14.63 million for the most recent twelve months. Its market capitalization is approximately $2.4 million, and its stock price was $0.79 as of January 2 2026. The company has secured an $18 million financing facility to accelerate school‑bus production and convert a backlog of more than $50 million in contracted orders. GreenPower voluntarily delisted its common shares from the TSX Venture Exchange on November 14 2025 due to low trading volumes.
Strategically, the new plant will support the scaling of GreenPower’s purpose‑built electric school buses—Nano BEAST, BEAST, and Mega BEAST—and its commercial EV Star line, including V2G‑capable models. GreenPower is the only electric‑vehicle OEM that manufactures both a Class 4 Type A and a larger Type D school bus, a capability that was highlighted in a 2025 pilot program in New Mexico that helped secure the state incentives.
The facility is slated to begin construction in Q1 2026, with production expected to commence on June 1 2026. CEO Fraser Atkinson said, “Establishing GreenPower’s new manufacturing facility in Santa Teresa marks a significant milestone in our expansion.” The state incentives and financing are designed to offset the company’s current financial headwinds, while the new plant positions GreenPower to capture the growing zero‑emission fleet market and meet regulatory mandates across the United States.
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