EV sales slump? No one told Blue Bird (BLDB), their stock is soaring!

EV stocks have had a rough couple of months, but Georgia-based bus brand Blue Bird has seen its stock price more than double in the last year as the company’s electric buses make their way to school districts around the country.

Newsweek is reporting that Blue Bird stock is soaring – and it’s true. The stock has climbed more than 111% in the last year, seriously outperforming SPAC deal tickers like Polestar (PSNYW) and Fisker (FSRNQ) and proving that lucrative union pay contracts and higher costs driven by the addition of new safety features don’t necessarily lead to reduced stock prices.

Take notes, GM.

This is how it’s done

“Well, I would say we’re breaking a lot of the norms. A lot of these conventional wisdoms, that you can’t be a profitable EV company, obviously, that’s not true,” Blue Bird President Britton Smith told Newsweek. “We’re doing quite well. Having a positive relationship with the union is good for employees, and it’s good for the company overall. And even on safety, we’re breaking the convention that seatbelts are too expensive, and we’re making them more affordable for school districts nationwide.”

Blue Bird is leaning into zero emission buses that the company says will eventually produce up to 5,000 electric buses and gliders per year, as well as a new EV chassis line being developed for the red-hot last-mile delivery van market.

The company expects to deliver its 2,000th all-electric bus later this summer.

Electrek’s Take

The number of incentives out there to help electrify school districts is huge. The federal Clean School Bus Program, several state EPA programs, and even regional utility programs (like ComEd’s BE Plan in Chicago) are offering six figure rebates to help reduce harmful, surface level air pollution among school-aged kids – one of the most vulnerable populations.

Newsweek‘s interview with Blue Bird’s president gets into all of that, talks about improved safety, better conditions for kids and bus drivers, and more. If you’re a BLBD investor (or are thinking about becoming one) it’s definitely worth checking out.

SOURCE | IMAGES: Blue Bird, via Newsweek.