What Happened to Proterra?
Return
0.0%
Current Price
$0
Peak Price
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Trust Size
$711M
Summary
Proterra was a leading manufacturer of electric transit buses and EV battery/powertrain technology. The company went public via SPAC merger with ArcLight Clean Transition Corp in 2021 at a $1.6 billion valuation. Proterra filed for Chapter 11 bankruptcy in August 2023 despite being a market leader in electric buses.
What Happened
ArcLight Clean Transition Corp merged with Proterra in June 2021 amid massive enthusiasm for EV companies. Proterra had delivered hundreds of electric buses across North America but struggled with supply chain disruptions, rising costs, and insufficient scale. The company filed for Chapter 11 in August 2023. Its bus manufacturing and battery/powertrain businesses were sold to separate buyers, including Phoenix Motor for the bus division.
Timeline
2020-09-16
S-1 Registration Filed
2024-03-14
Last SEC Filing