The growth and evolution of the EV market has had a few surprises in store, including the fact that American car buyers are craving electric sedans. And, as it turns out, there’s another EV manufacturer who’s seen its stock dramatically rise over the course of the last year. Is it Ford, Chevrolet or Tesla? Actually, in this case, the answer is Blue Bird Corporation. Founded in 1927, the company is focused on manufacturing school buses.
As Matthew Fox explained at Business Insider, Blue Bird’s stock has risen in value by an impressive 116% this year to date. Business Insider attributes some of that shift to government incentives to make school buses more environmentally friendly. The EPA’s Clean School Bus program allocated $5 billion over five years with the intention of getting school districts to upgrade their vehicle fleet to electric and other zero-emissions options.
Earlier this year, the company announced its largest single order to date: 180 buses purchased by the Los Angeles Unified School District. “Blue Bird is recognized as the technology leader and innovator of all-electric school buses,” CEO Phil Horlock said at the time. “We are thrilled to provide safe, reliable and — above all — clean student transportation to the Los Angeles Unified School District, the second largest in the nation.”
Ford Is Reckoning With EVs’ Affordability Issues
Can the automaker lower the cost of its electric vehicles?According to Business Insider, EVs are making up a growing portion of Blue Bird’s revenue. As of now, they’re at 9% — a year ago, that figure was only at 6%. That’s a pretty big jump, if you think about it.
It’s not surprising that school buses would make an efficient transition to electrification. You’re not likely to need to travel hundreds of miles on a single charge on a school bus, and logistically, they’re likely very easy to maintain and keep charged. But there’s also something encouraging about seeing a nearly century-old company embrace zero-emissions vehicles.
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