GreenPower Motor Company has finalized a strategic incentive package totaling $14.6 million from the State of New Mexico to support its new 135,000-sq.-ft. manufacturing facility in Santa Teresa. The package includes a $5 million award under the Local Economic Development Act (LEDA), $4.6 million in job training incentive funds (JTIP), a $1.36 million Rural Jobs Tax Credit (RJTC) and $3.65 million through the High-Wage Jobs Tax Credit program. These funds were a pivotal factor in GreenPower's decision to locate its first U.S. manufacturing and corporate headquarters in the Santa Teresa Foreign Trade Zone, a hub offering streamlined customs procedures and rail connectivity to major ports in Long Beach and Houston. Operations are slated to begin in Q1 2026, with plant possession scheduled for June 1, 2026, and are expected to create 340 permanent jobs over the next decade.

GreenPower has secured credit approval from CIBC for a combined $5 million in financing facilities, comprising a $3 million revolving line of credit and a three-year, $2 million term loan. In parallel, the company closed an additional $5 million in term loans provided by two family offices, each backed by personal joint and several guarantees. As part of the related-party arrangements, GreenPower will issue 3,205,128 non-transferable warrants exercisable at US$0.78 per share over 36 months, plus 641,025 shares to one family office. Proceeds will first retire the existing operating line of credit, with remaining funds allocated to accelerate production of electric medium and heavy-duty vehicles to meet outstanding customer orders.