Proterra Inc.

Cash-poor transportation startups gambling for fresh capital

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

As transportation and electrification startups struggle to raise capital, they are increasingly...

https://www.freightwaves.com/news/cash-poor-transportation-startups-gambling-for-fresh-capital

Proterra won’t fight Nasdaq delisting following bankruptcy filing

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Electric bus and battery maker Proterra Inc. won’t fight its Aug. 17 delisting from the Nasdaq as it...

https://www.freightwaves.com/news/proterra-wont-fight-nasdaq-delisting-following-bankruptcy-filing

EV battery maker Proterra files for Chapter 11 bankruptcy protection

Cash-strapped electric bus and battery maker Proterra Inc. filed for Chapter 11 bankruptcy protection Monday. The company plans to keep running while sorting out its business units during reorganization.

Proterra voluntarily filed its petition in the District of Delaware where it is incorporated. It hopes to strengthen its financial position through recapitalization or sale of some business units. In addition to its original line of electric buses, Proterra makes battery packs and develops...

https://www.freightwaves.com/news/ev-battery-maker-proterra-files-for-chapter-11-bankruptcy-protection

Nikola moves to liquidate battery pack maker Romeo Power

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Nikola Corp. is liquidating Romeo Power, the battery pack maker it acquired for $144 million in stock

https://www.freightwaves.com/news/nikola-moves-to-liquidate-battery-pack-maker-romeo-power

Former Daimler Truck CEO becomes chairman of Proterra

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Retired Daimler Truck North America CEO Roger Nielsen is taking over as chairman of Proterra Inc.,...

https://www.freightwaves.com/news/former-daimler-truck-ceo-becomes-chairman-of-proterra

Startups struggling to make financial ends meet

One is a startup. The other is better described as an early-stage growth company. Choosing lidar maker Ouster Inc. and bus, battery and electric infrastructure provider Proterra Inc. for Securities and Exchange Commission filings scrutiny may be selective. But they represent the ongoing financial difficulties affecting companies trying to advance transportation technology.

Some have already left the stage: XL Fleet was purchased by the Shyft Group. Electric Last Mile Solutions went bankrupt amid...

https://www.freightwaves.com/news/startups-struggling-to-make-financial-ends-meet

Nikola matures as an electric truck manufacturer

COOLIDGE, Ariz. — Electric truck and hydrogen maker Nikola Corp.’s financial struggles — a  near-record-low stock price, weak cash position and inability to access reasonably priced capital — feed legitimate concerns about its survival. But visit the plant about an hour east of Phoenix and you come away with a different take.

First, the L-shaped production line is full across all 15 assembly stations. Nikola is capable of building five or six Class 8 battery-electric vehicles (BEVs) a day....

https://www.freightwaves.com/news/nikola-matures-as-an-electric-truck-manufacturer

How Kodiak Robotics avoided FOMO in staying private

The meltdown of transportation SPAC valuations is unrelenting. Here’s the story of one thriving autonomous trucking developer that stayed out of the rush-to-go-public frenzy.

Kodiak Robotics’ peace of being private

One autonomous trucking developer ignored the FOMO (fear of missing out) on the SPAC frenzy of 2020 and 2021. With valuations cratering for most companies that went public via special purpose acquisition companies, Kodiak Robotics is looking pretty smart. 

It is hiring strategically...

https://www.freightwaves.com/news/how-kodiak-robotics-avoided-fomo-in-staying-private

Founder shares the back story of what happened at Romeo Power

Michael Patterson is a serial entrepreneur who has an inscribed baseball bat for every company he starts, grows and sells. His latest move: taking over 76-year-old Crane Carrier Co. to introduce battery-electric refuse trucks under the name Battle Motors. He has a bat for it too.

Serial entrepreneur flips the script

Michael Patterson has little to prove in the world of entrepreneurship. He has started and sold four companies. For each, the 54-year-old Patterson has an inscribed baseball bat...

https://www.freightwaves.com/news/serial-entrepreneur-tells-back-story-of-spac-sponsored-romeo-power

Truck Tech: Infrastructure infancy edition

A new name in electric truck charging and infrastructure broke cover this week with $1 billion or more in private equity funding. With prospects for federal money and significant experience in electrification, Voltera might be a name to watch.

New kid in town 

There’s a new kid in town that could help build infrastructure for electric trucks. The name is Voltera. Its leaders have experience in electric charging. More important, it has access to funding. Lots of funding.

The exact figure is...

https://www.freightwaves.com/news/truck-tech-infrastructure-infancy-edition

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.