(BRK.A), (BRK.B)
Berkshire Hathaway’s recreational vehicle manufacturer, Forest River, Inc., has signed a deal with GreenPower Motor Company Inc. in order to launch a new line of Forest River zero-emission product offerings.
GreenPower entered into an exclusive purchase agreement, related to Cutaway minibuses and Type B and C Recreational Vehicles, with Forest River to deliver up to 150 GreenPower EV Star Cab and Chassis.
It is anticipated that the initial deliveries of GreenPower’s EV Star CC units to Forest River will be directed at the cutaway shuttle bus, commercial truck and recreational vehicle markets.
Greenpower expects to deliver the first six units of the purpose-built all-electric EV Star CC this quarter, with the remainder expected to be delivered over the next 36 months at a run rate that will be determined by the third quarter of 2021.
Brendan Riley, President of GreenPower, commented, “Forest River is a forward-thinking company that is looking to solidify their market position long into the future by adding a purpose-built, zero-emission offering to many of their product lines.” Riley added, “The EV Star Cab and Chassis meets the demands of many of their addressable markets and allows Forest River to focus on what they are experts at: building bodies.”
David Wright, President of Forest River’s bus divisions added, “Forest River has been looking for a purpose-built all-electric chassis that has the range and the carrying capacity that our customers and dealers demand. Zero-emission vehicles are where the markets are going, and the GreenPower EV Star CC gives us the flexibility to address a variety of unmet needs in the commercial market.”
Wholly-owned by Berkshire Hathaway, Forest River has over 10,000 employees and annual revenues in excess of $5 Billion.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.