Welcome to our dedicated page for Proterra news (Ticker: PTRA), a resource for investors and traders seeking the latest updates and insights on Proterra stock.
Proterra Inc (NASDAQ: PTRA) is a pioneering leader in the design and manufacture of zero-emission heavy-duty vehicles, primarily focusing on electric transit buses. Since its inception, Proterra has sold over 480 vehicles to 60 different municipal, university, airport, and commercial transit agencies across 25 states in the U.S., significantly contributing to greener and quieter local transportation.
The company's flagship product, the Proterra Catalyst Platform, is known for its unmatched durability and energy efficiency. Designed to meet the full daily mileage needs of nearly every U.S. transit route on a single charge, the Catalyst platform demonstrates Proterra's commitment to innovation and sustainability in public transportation. These vehicles are rigorously tested and proudly designed, engineered, and manufactured in America, with operational hubs in Silicon Valley, South Carolina, and Los Angeles.
Proterra's commitment to sustainability and innovation is further showcased through its Proterra Energy division, which offers comprehensive EV charging solutions tailored to the specific needs of fleet operators. This includes everything from installation to fleet management software, ensuring that commercial EVs and their charging infrastructure can scale effectively.
Recently, Proterra collaborated with ABC Companies and Pacific Gas and Electric Company (PG&E) to open North America's largest electric motorcoach charging facility in Newark, California. This facility is a testament to Proterra's ability to provide scalable, efficient charging solutions for large fleets. The facility supports up to 1.4 megawatts of EV charging power, allowing up to 40 motorcoaches to be charged simultaneously. This milestone highlights Proterra's role in accelerating the adoption of electric vehicles in the commercial sector.
Despite recent market challenges, Proterra continues to push forward. On August 7, 2023, the company filed for Chapter 11 protection to restructure its business and maximize the value of its product lines. This strategic move aims to strengthen the company’s financial position, ensuring that it can continue to operate and innovate during this transition period.
For more information about Proterra and its latest developments, please visit www.proterra.com or follow them on Twitter @proterra_inc.
Proterra (NASDAQ: PTRA) has secured a $26.5 million contract with Pace Suburban Bus to supply 20 electric transit buses and two fleet chargers. This marks Pace's first order of battery-electric buses as part of its initiative to transition to a zero-emission fleet by 2040. The Proterra ZX5 Max buses feature advanced battery technology with 675 kWh of energy storage, representing the highest available in North America's electric transit bus market. Delivery is expected in 2023, demonstrating Proterra's strong position in the growing electric vehicle sector.
Proterra Inc (NASDAQ: PTRA) announced a multi-year supply agreement with The Shyft Group to provide battery technology for Blue Arc's electric delivery vans. The partnership aims to enhance zero-emission delivery solutions, contributing to cleaner air and healthier communities. Proterra's H-Series battery systems offer a range of 150 to 175 miles per charge and are designed for commercial vehicle efficiency. With over 25 million service miles driven, Proterra's systems are trusted by top manufacturers in various sectors, including delivery, construction, and public transit.
Proterra Inc (NASDAQ: PTRA) released its unaudited fourth quarter and full year 2021 financial results on March 1, 2022. The details are accessible on their Investor Relations website. A conference call is scheduled for the same day at 2:00 PM PST to discuss these results further. Proterra specializes in zero-emission electric transit vehicles and EV technology solutions, with a commitment to industry-leading durability and energy efficiency in its products, all designed and manufactured in the United States.
Proterra (NASDAQ: PTRA) announces the appointment of Roger Nielsen to its board of directors, effective March 2, 2022, while Jochen Goetz resigns to focus on other commitments. Nielsen brings 35 years of experience from Daimler Trucks, where he led advancements in electrification for commercial vehicles. His expertise is expected to bolster Proterra's mission of enhancing zero-emissions transportation. Goetz departs after four years of service, contributing to Proterra's transition to a public company.
Proterra Inc (Nasdaq: PTRA) will release its fourth quarter 2021 financial results on March 1, 2022, after market close. A conference call is scheduled for the same day at 2:00 PM Pacific Daylight Time to discuss the financial results. Investors can access the live audio webcast on Proterra's Investor Relations website. Proterra is recognized for designing and manufacturing zero-emission electric transit vehicles and EV technology solutions, with products crafted in the U.S., prioritizing durability and energy efficiency.
The Santa Clara Valley Transportation Authority (VTA) is set to install a solar and battery storage microgrid along with EV fleet charging systems in collaboration with Proterra and Scale Microgrid Solutions. This initiative empowers VTA to maintain operations of electric buses during power outages, achieving cost savings on electricity and reducing emissions.
The project, funded by a grant from the California Energy Commission, will utilize approximately 1.5 megawatts of solar energy and support 34 electric transit buses, aiming for operational readiness by late 2023.
Nikola Corporation (Nasdaq: NKLA) and Proterra Inc (Nasdaq: PTRA) announced a multi-year supply agreement aimed at powering Nikola's zero-emission semi-trucks with Proterra's advanced battery technology. Proterra will deliver prototype systems starting in Q2 2022, with full production expected by Q4 2022. This partnership aims to decarbonize the trucking industry, addressing a significant source of pollution. Both companies are committed to enhancing the performance and sustainability of commercial heavy-duty vehicles, leveraging their expertise in electric vehicle technology.
Proterra and Vicinity Motor Corp. have entered into a multi-year supply agreement to equip Vicinity's Lightning™ electric vehicles with Proterra's advanced battery technology. This partnership will support the production of a minimum of 600 commercial electric vehicles by 2024, including heavy-duty electric transit buses and Class 3 and 5 work trucks. Production of the Vicinity Lightning is set to commence in Q3 2022. Both companies aim to enhance zero-emission transportation in North America, aligning with federal funding requirements.
Proterra plans to open a new electric vehicle (EV) battery manufacturing facility in Greer, South Carolina, with a minimum investment of $76 million. This factory aims to support the increasing demand for commercial EVs by producing battery systems for various applications, including buses and work trucks. Set to begin production in the second half of 2022, the facility will create over 200 jobs and will significantly enhance Proterra's production capacity in the Eastern U.S. This marks the company's first battery plant on the East Coast and third nationwide.
Proterra Inc (Nasdaq: PTRA) announces key leadership changes effective January 1, 2022. Gareth Joyce will succeed Jack Allen as CEO, who will transition to Non-Executive Chairman. Karina Franco Padilla has been appointed Chief Financial Officer, bringing over 25 years of finance experience. The Board also welcomes ML Krakauer and thanks former director Ryan Popple. Joyce aims to leverage Proterra's technology and momentum for growth in the commercial electric vehicle sector, while Padilla is set to enhance financial strategies for shareholder value.
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