Biden-backed electric vehicle company files for bankruptcy

NY Post ^ | 08/08/2023 | Josh Christenson

[ChicagoConservative27]

President Biden frequently extolled an electric vehicle company — in which his energy secretary heavily invested — before it declared bankruptcy on Monday.

Bay Area-based electric bus and battery maker Proterra filed for Chapter 11, with CEO Gareth Joyce citing “various market and macroeconomic headwinds that have impacted our ability to efficiently scale.”

The EV firm, which sold more than 1,300 electric buses to public transit systems in the US and Canada, was valued at $1.6 billion when Biden, 80, took office in January 2021 — but closed with a market value of $362 million, according to Reuters.

[Tell It Right]

In comment 19 and 28 I give what IMHO are practical reasons a couple might consider an EV and practical reasons why an EV isn’t a good choice for them. This is from a free market perspective, not from the warmageddon religious beliefs or the control-freak Dims forcing EV’s onto people.

[EVO X]

City bus operation is a tough duty cycle, and maintenance is typically done by unionized city employees who DGAS about things.

You raise a good point about the bus duty cycle. My metro area bus system just got rid of their remaining 20 year old diesel buses and replaced them with diesel electric hybrids. As far as I can tell, they have no electric buses. If electric buses were up to the task, they would have acquired them..