da-kuk
Blue Bird Corporation (NASDAQ:BLBD) formally announced on Thursday that it has been selected to receive an $80 million grant from the U.S. Department of Energy to expand the company’s electric vehicle manufacturing capabilities and related workforce development efforts. The DOE funding is part of the U.S. government’s previously announced heavy investment in electric vehicle infrastructure.
Blue Bird (BLBD) plans to convert a prior manufacturing site for diesel-powered motorhomes in Fort Valley, Georgia, into a state-of-the-art electric vehicle manufacturing facility. The conversion will assist Blue Bird in increasing the production of Type-D electric school buses to meet the rising demand for clean student transportation nationwide.
The company noted that the award selection is subject to final contract and funding negotiations between the DOE and Blue Bird, which could take up to 120 days to conclude. Blue Bird (BLBD) was one of 11 selected companies, including Cummins (CMI), Blue Bird’s (BLBD) supply chain partner for electric vehicle powertrains.
Shares of Blue Bird (BLBD) were up 5.85% in Thursday afternoon trading.