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American school bus manufacturer Blue Bird Corp. (NASDAQ:BLBD) delivered its 2,000th electric school bus to Clark County School District (CCSD) in Nevada last week.
What Happened: The new bus takes between three and eight hours to recharge fully and can carry 84 students.
The school district, which operates 373 schools and serves over 300,000 students, made the new vehicle purchase from the $9.875 million grant received from the U.S. Environmental Protection Agency's (EPA) Clean School Bus Program to purchase electric school buses.
"Local, state, and federal funding for clean school buses remains at an [sic] historic high. Above all, we applaud the EPA's Clean School Bus Program for accelerating the adoption of zero-emission student transportation nationwide and for helping to usher in an unprecedented era of technology innovation," said Britton Smith, president at Blue Bird Corporation.
Why It Matters: Blue Bird now has electric school buses serving across school districts in 41 U.S. states and 4 Canadian provinces which have covered more than five million miles already. It is looking to expand its production capacity to over 5,000 electric school buses per year in the future.
For the three months through the end of June, the company reported net sales of $333.4 million, up 13.3% from the corresponding period last year, and adjusted EBITDA of $48.2 million, marking an increase of $18.6 million from last year.
Price Action: While many EV stocks have dipped year-to-date, including bigshot Tesla Inc.’s, Blue Bird shares have gone up. The company’s shares closed at $51.18 on Friday, marking a growth of about 95% year to date, according to data from Benzinga Pro.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
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Photo courtesy: Blue Bird
Posted In: BLBD
