Skip to comments.Proterra becomes the latest EV innovator to file for bankruptcy protection
Posted on 08/08/2023 11:47:50 AM PDT by ConservativeInPA
It’s a tale as old as time… well at least for the past fifteen years or so when we look at the EV industry. EV battery and vehicle platform specialist Proterra is the latest company to join an infamous list of electrified tech companies who have filed for Chapter 11 bankruptcy. What does this mean for the other companies dependent on Proterra’s EV tech? Proterra Inc. (PTRA) is (was?) an American automotive and energy storage developer that would be celebrating two decades in the industry next year. We at Electrek have contributed consistent coverage of the California-based company over the years through its countless ventures in electrification.
(Excerpt) Read more at electrek.co ...
It is a waste of tax dollars on technology that does not deliver on its lies, um, promises
Btw, there was a time in America when cities didn’t buy buses. Private businesses ran “public” transportation. My grandfather worked for such a business after the war and into the 50’s.
The climate change cult will be unmoved by this.
And guess who the give campaign contributions. The whole thing is a scam.
The crooks all got their money and kickbacks. They don’t care if it goes out of business. There will be another one, operating by the same disgusting mechanisms, to funnel taxpayer dollars into the pockets of politicians and others pushing the idiotic EV crap, that will continue the corrupt teat sucking.
There was zero business case for Tallahassee, Fl. to have a bus service. The government wanted a bus service. They advertised that they’d bought the very first kneeling bus, for people in wheelchairs. Guess how many people used it. The business case was made that it would be cheaper to buy special vans and have the people in wheelchairs call and they’d get a ride wherever for free. Nope, kneeling bus. It was forever in the garage not working. Then the city bragged it was the first-ever city to buy an electric bus. Again, spent the entire time in a garage. It didn’t have the range to cover the shortest route and it took too long to recharge. Then, the city was taking hits because everyone could see that no one was riding the buses they bought new busses you can’t see inside of. The bus system, which is ironically voted for and kept by people who drive their Mercedes everywhere and never use the service, has been a consistent money dump forever.
Coming soon from the MSM - “EVs are not any worse for the environment than gasoline powered cars.”
Innovator or scamavator?
That's it in a nutshell. Someone has pocketed some nice change. It';s not you and it's not me....
Just wait. Proterra will ‘reorganize’ and a brand new, innovative, cutting-edge company will be announced, with much fanfare, said to be breaking new ground with taxpayer $$$. The name of this new, exciting company?
All the executives and board of directors will be the most woke of the woke. Transsexual transvestites will abound. Like Hunter Biden, they will have no knowledge or experience in, well, anything, but their dedication to Marxism and record donations to democRATS will lead the way, until all the taxpayer $$$ run out.
It’s more than just “government going into business” that drives this. Many of these companies were initially funded and subsidized for years by venture capital that chased these highly speculative dreams because they had nowhere else to go. With interest rates rising, a lot of that investment capital is going elsewhere now.
Another failed libtard with a battery up their butt
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