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Blue Bird Corporation (NASDAQ:BLBD) shares are trading lower on Wednesday.
The company said it is supplying 23 electric school buses to Carter County Schools (CCS) in Kentucky.
The zero-emission vehicles mark a "new era of clean student transportation" for the school district, the company said. CCS operates eleven schools serving approximately 4,200 students.
The electric bus features an extended range, faster battery charging, and increased seating capacity.
Blue Bird's most advanced Vision electric school bus carries a higher-capacity battery of 196kWh, a more than 25% capacity increase compared to the previous model bus.
The compact and lightweight batteries contribute to improved efficiency and a vehicle weight reduction of approximately 1,000 lbs.
In turn, Blue Bird increased the seating capacity of its new Vision electric bus to 77 passengers, up from 72 passengers.
CCS received a $9.09 million grant through the U.S. Environmental Protection Agency's (EPA) 2022 Clean School Bus Rebate Program to purchase its Blue Bird electric school bus fleet.
Last year, the EPA awarded nearly $1 billion in funding to school districts across all 50 U.S. states for more than 2,400 clean school buses.
In 2023, the EPA plans to offer an additional $1 billion in funding for low- and zero-emission school buses.
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Price Action: BLBD shares are trading lower by 4.19% to $25.21 on the last check Wednesday.
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