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  "documentTitle": "GreenPower Motor Company (GP)",
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  "authorName": "White Diamond Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-12-01 00:00:00",
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  "notes": "The slide uses primary source interviews to challenge the company's claims regarding product compliance and market eligibility.",
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      "kind": "callout",
      "text": "GreenPower is limited to only selling in California since California’s state subsidy program doesn’t require Buy America standards.",
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      "text": "We spoke with a transit official who said that they look for Buy America compliant buses, and 70% of the cost of the vehicle needs to be from an American plant. He reviewed GreenPower’s warehouse, and saw the same thing our source saw. He said:",
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      "text": "For the MBTA, he said they ended up going with the Ford EV vehicles from Lightning eMotors. Ford blesses the Lightning bus with the eQVM certification. That puts the trust of Ford behind it with the Ford warranty.",
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      "text": "The official approved the EV Star as an eligible vehicle by CalACT, as GreenPower stated in a PR on 9/25/20. However, the EV Star is only approved if it’s built in a way that’s Buy America compliant. So far, GreenPower has never delivered a Buy America compliant vehicle, so this type of EV Star currently doesn’t exist.",
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      "text": "up over 100%. We got the price of $280K from a transit official that was also a prospective customer of GreenPower for the Morongo Basin Transit Authority (MBTA). $280K was the price he said they were offered for a Buy America compliant EV Star.",
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      "text": "GreenPower is limited to only selling in California since California’s state subsidy program doesn’t require Buy America standards. It is the only state in the US that doesn’t require it. This is illustrated in the image below:",
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      "text": "What I saw from the plant was essentially the bulk of their activities were pre-delivery activities for the non-Buy America bus, I saw several dozen there. We want major components for Buy America compliance. We would want them commissioning the power train, installing the battery, installing the switch gear, and the seats installed there.",
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      "text": "What I saw from the plant was essentially the bulk of their activities were pre-delivery activities for the non-Buy America bus, I saw several dozen there. We want major components for Buy America compliance. We would want them commissioning the power train, installing the battery, installing the switch gear, and the seats installed there. — Transit Official",
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      "text": "We Interviewed A Transit Official That Rejected GreenPower’s Non Buy America Compliant EV Star",
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      "text": "GreenPower Can Only Receive Subsidies from California",
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