By Bob Walsh
Proterra buses being built at the company's factory in Greenville, South Carolina.
PROTERRA means "for the earth."
They have been around since 2004 and went public in 2021 with a SPAC
(special acquisition company). Their stock has dropped below $1 per
share and they have just filed for Chapter 11 Bankruptcy protection.
They hope to continue operating.
They
assert that they have sold over 1,300 electric busses to 130 agencies
in North America with a total of 40 million service miles. There is
currently an order floating around in Canada for 1,229 electric busses
which PROTERRA is in the running for. They do have a good product and a
meaningful cash flow but right now they can not pay both their workers
and their suppliers.
Perhaps
Joe should just give them a few hundred million of taxpayers dollars
because they are nice people and he likes them. Or not.
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