![]() (As of August 2023, the company had delivered more than 1,000 electric transit buses, including 199 new transit buses and 14 pre-owned buses in 2022.) It raised millions from high-profile backers like Daimler and locked in deals with numerous cities. It launched in 2004 as an electric transit bus company, a sector that seemed open for the taking and well positioned for growth. ![]() After all, Proterra was a company that was well-established - certainly no pre-revenue upstart - and a darling in the EV sector. The bankruptcy filing came as a surprise for many. While some parallels can be drawn between Proterra and other failing or defunct EV companies, this company faces specific headwinds that took it down a rocky financial path. ![]() Proterra, a company that develops battery systems for buses and other heavy duty EVs, filed for bankruptcy earlier this week, making it the latest in a string of failures in the EV sector.
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