Proterra, Leading EV Firm, Declares Chapter 11 Bankruptcy
Originally Published 2 years ago — by Reuters
Electric-vehicle parts supplier Proterra has filed for Chapter 11 bankruptcy protection, citing supply chain constraints, slowing demand, and a funding drought. The company's shares nearly halved in value, and it listed its assets and liabilities in the range of $500 million to $1 billion. Proterra, which makes electric buses and battery packs, plans to continue operating and will use existing capital to fund operations.