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From Electrek: Electric bus maker Proterra secures important $140 million investment to...

Discussion in 'News from Electrek.co' started by RSSFeed, Jan 9, 2017.

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    Electric bus maker Proterra secures important $140 million investment to expand production, partly from a mysterious investor

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    Now that battery-powered buses are becoming more cost-effective and able to handle almost any urban routes, manufacturers are looking to expand their production to satisfy the demand from transit agencies turning to electric when updating their fleet.

    Proterra, a manufacturer of large all-electric buses in the US, has been talking a lot about production expansion lately after sales being up 220% since last year. The company hired Tesla’s former Vice President of Manufacturing to lead the expansion at their facility in Greenville, South Carolina, and their new factory in Los Angeles County.

    Last week, the company confirmed having secured an impressive $140 million investment to finance this important expansion of their production capacity. more…

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