Proterra Set To Take Heavy-Duty Electric Vehicle Business Public via SPAC Transaction

Proterra has expanded from making electric buses to providing batteries, drivetrains and charging stations to a widening range of heavy-duty electric vehicles. (Credit: Proterra) But in the past few years, it’s expanded to supplying its electric drivetrains and batteries to a host of different vehicle manufacturers, as well as making the charging systems used to fuel them. “It quickly became evident that what we had was special and different,” Proterra CEO Jack Allen, who joined Proterra as chairman in 2017 after a 30-year career at truck and bus maker Navistar International, told Greentech Media in a Tuesday interview. “I understood what was going on with electrification in the commercial vehicle business, and I saw that Proterra had a leadership position.” Proterra’s spectrum of EV businesses Daimler is a major partner, with two exclusive battery and drivetrain partnerships launched in 2018 along with a $155 million investment. The first is with Daimler’s Thomas Built Buses division, which is supplying electric school buses to school districts, municipalities and, most recently, to utilities such as Virginia’s Dominion Energy, which has the largest vehicle-to-grid program in the country. The second Daimler partnership centers on its Freightliner Custom Chassis division, which makes chassis for […]

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