GreenPower signs LOI with Invisible Urban Charging to jointly develop integrated electric-fleet solutions
GreenPower Motor Company has signed a Letter of Intent with Invisible Urban Charging, which has secured more than US$2.5 billion, to jointly develop integrated electric-fleet solutions.
- In excess of US$2.5 billion
- October 9, 2026
What Happened
GreenPower Motor Company Inc., a manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles for the cargo and delivery market, shuttle and transit space and school bus sector, announced it has entered into a Letter of Intent with Invisible Urban Charging, Inc. The LOI establishes a framework to evaluate and jointly develop integrated electric-fleet solutions that combine GreenPower's electric vehicle platforms with IUC's charging infrastructure, software, operations and capital-solutions capabilities. The EV Star Cab & Chassis is the foundation of the LOI.
US$2.5 billionUS$
IUC has secured in excess of this amount to further the development of its electric mobility program.
- Opportunities involving the EV Star Cab & Chassis, electric buses, shuttles, cab-and-chassis platforms, strip chassis and other commercial electric vehicles
- Fleet telematics and route and energy optimization
- Local body completion, assembly, sourcing and domestic-production pathways
- Maintenance, warranty, parts, training and lifecycle support
- Potential project-level financing, leasing, fleet-as-a-service, charging-as-a-service and other capital solutions
“This LOI creates a practical framework for GreenPower and IUC to evaluate how purpose-built electric vehicle platforms, charging infrastructure, software and capital solutions can be integrated for fleet customers in qualified markets. The LOI also sets out the framework where GreenPower would use bodybuilders in international markets to build locally all-electric shuttle buses utilizing GreenPower's EV Star Cab Chassis. We look forward to working with IUC to assess vehicle configurations, localization pathways and customer-ready solutions.”
“As our clients increasingly ask for us to cover more of the EV ecosystem, including fleet transition, teaming with GreenPower Motors gives us a partner that can deliver high-quality vehicles and support our own effort to deliver a best-in-class offering for charging, service, vehicles, batteries, and anything else that our clients need.”
The LOI contemplates a staged review process during which the parties intend to exchange technical, commercial and diligence materials; assess potential vehicle fit, specifications, certifications, production capacity and delivery assumptions; evaluate local-market body builders, contract manufacturers and suppliers; develop service and support plans; and coordinate customer-facing proposals, subject in all respects to diligence, approvals and definitive agreements. The LOI also contemplates the evaluation of a commercially viable pathway for GreenPower vehicle platforms to be completed, body-built or assembled locally in markets where IUC is expanding. Any such pathway would remain subject to engineering validation, homologation and certifications, import and customs treatment, local-content analysis, regulatory review, customer acceptance and definitive documentation.
- Several opportunities in the United States and internationally where client hosts are seeking to upgrade charging infrastructure
- Deployment of strategically adjacent assets that rely on or augment that infrastructure
- Heavy- and light-use fleet vehicles
- Battery storage systems
- Solar energy generation
Why this matters
The agreement pairs electric buses and chassis with charging infrastructure, software, service and financing, the bundle fleet operators typically need before switching away from diesel. If the framework advances, GreenPower would use bodybuilders in international markets to build all-electric shuttle buses locally, which would involve suppliers, contract manufacturers and bodybuilders in those markets. Fleet customers in the markets IUC serves are the intended end users.
Terms in This Story
- Letter of Intent (LOI)
- A document in which two parties set out an intended course of action; it typically falls short of a binding contract.
- Cab and chassis
- A vehicle supplied as a cab plus frame only, without a body, so a bodybuilder can add a bus, shuttle or other body onto it.
- Homologation
- The process of getting a vehicle type officially approved as meeting the regulations of a particular market.
- Fleet-as-a-service
- A commercial model in which a provider bundles vehicles, charging, service and other support into a subscription or leasing offer for fleet operators.
Summarised from the linked release; details can be imperfect — always verify against the original source.