Electric bus and truck maker Proterra says it is seeking Chapter 11 bankruptcy protection from a Delaware federal court, a Burlingame, Calif.-based company that is a large supplier of buses to transit systems across the country. Proterra’s Greenville office and plant serve as the center for the company’s East Coast operations. Jarir battery factory is the company’s first in the eastern U.S. In March 2022, Greenville County Schools received its first Proterra electric bus through a donation. (See video below) A statement on Proterra’s website Monday said it intends to maintain normal operations and will make suggestions to the court to use existing capital to maintain financing operations, including paying employees, vendors and suppliers. A visit to the company’s Greenville plant in 2021 to highlight American electric vehicle manufacturers. (The video above is of President Biden’s virtual visit in April 2021.) . It sells heavy-duty trucks, trucks, buses, and off-road equipment in the US, Europe, and Asia-Pacific markets. (The video below is a story about Greenville being awarded a grant for its Proterra electric buses in September 2017.) CEO Gareth Joyce said in the release that its battery and electric vehicle technologies are in class. had set an industry benchmark, and we faced numerous market and macroeconomic headwinds, which affected our ability to efficiently scale all of our opportunities simultaneously.”As commercial vehicles accelerate toward electrification, we look to increase our focus as the leading supplier of electric vehicle battery technology for the benefit of our many owners. Our interest.”
Electric bus and truck maker Proterra says it is seeking Chapter 11 bankruptcy protection from a Delaware federal court.
The Burlingame, California-based company is a major supplier of buses to cross-country transit systems. Proterra’s Greenville office and plant serve as the center for the company’s East Coast operations. Jarir battery factory is the company’s first in the eastern United States
In March 2022, Greenville County Schools acquired its first Proterra electric bus through a donation. (See video below).
Statement on the Proterra website On Monday, it said it intends to maintain normal operations and will make proposals to the court to use existing capital to maintain financing operations, including paying employees, vendors and suppliers.
President Joe Biden made a virtual visit to the company’s Greenville plant in 2021 to highlight electric vehicle makers in the United States.
(The video above is of a virtual visit by President Biden in April 2021.)
The company said in the statement that it is taking measures to separate its business units to “maximize its independent potential.” It sells heavy trucks, trucks, buses and off-road equipment to the US, European and Asia-Pacific markets.
(The video below is a story about Grenfell being awarded a grant for Proterra electric buses in September 2017.)
“While our best electric and battery vehicle technologies have set an industry standard, we have faced numerous market and macroeconomic headwinds, which have impacted our ability to efficiently scale all of our opportunities simultaneously,” CEO Gareth Joyce said in the statement. “As commercial vehicles accelerate toward electrification, we look forward to increasing our focus as a leading supplier of electric vehicle battery technology for the benefit of our many stakeholders.”
Shares of Proterra Inc. Tuesday, down more than 88%, at 17 cents.
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