PTRA PROTERRA INC

First Proterra Powered commercial EV battery produced at new Powered 1 battery factory

First Proterra Powered commercial EV battery produced at new Powered 1 battery factory

GREER, S.C., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial vehicle electrification technology, today announced that the company has produced the first Proterra Powered EV battery at its new Powered 1 battery manufacturing plant located in Greer, South Carolina.

By achieving this end-to-end production milestone at Powered 1, Proterra is expected to begin deliveries to customers of Proterra Powered™ battery systems from the new battery factory in the first quarter of 2023. In addition, Powered 1 has started production of drivetrains and other ancillary systems incorporated into electric medium- and heavy-duty electric vehicles and equipment, such as high voltage junction boxes.

“Today marks an important step forward in our company’s journey towards shaping an all-electric, emissions-free future. Achieving this important milestone at Powered 1 a little over a year after announcing our plans for the factory is a reflection on the talent, innovation, and collaboration of our incredible team at Proterra,” said Proterra CEO Gareth Joyce. “At full scale, we believe Powered 1 will be the largest battery manufacturing facility in the United States dedicated exclusively to electric commercial vehicles and we’re poised to meet the incredible opportunities that lie ahead for zero-emission transportation.”

Powered 1 is Proterra’s first purpose-built, high-volume battery production plant in the Eastern United States with multiple gigawatt hours of annual production capacity planned at the facility. Proterra has already created more than 100 new jobs at the 327,000 square foot battery plant, with roles including engineering, production, quality, and other positions within the company’s Proterra Powered & Energy business unit.

By opening the company’s first battery factory in South Carolina Proterra is bringing state-of-the art battery production closer to its Proterra Powered customers on the East Coast, Europe, and its own Proterra Transit electric bus manufacturing operations in Greenville, South Carolina.

About Proterra

Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. With industry-leading durability and energy efficiency based on rigorous U.S. independent testing, Proterra products are proudly designed, engineered, and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles. For more information, please visit

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements with respect to Proterra 1, including expectations that the facility at scale will be the largest battery plant in the U.S. dedicated exclusively to commercial EVs, the timing of customer deliveries from the facility; the expected capacity of the facility and growth plans for Proterra 1; the opportunities for commercial vehicle electrification and Proterra’s ability to meet demand; the expected the location of Proterra’s customers and suitability of Powered 1 to serve customers, and expectations with respect to macroeconomic impacts and demand for Proterra’s products. Forward-looking statements are predictions, projections, expectations and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks and uncertainties set forth in the sections entitled “Risk Factors” in Proterra’s Annual Report for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 14, 2022, and in Proterra’s subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. The forward-looking statements included in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Proterra assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Proterra does not give any assurance that it will achieve its expectations.

A photo accompanying this announcement is available at



Media Contact

 

Investor Contact

 
EN
12/01/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on PROTERRA INC

 PRESS RELEASE

Proterra Receives Court Approval for Sale of Proterra Transit Business...

Proterra Receives Court Approval for Sale of Proterra Transit Business Line BURLINGAME, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has received approval from the U.S. Bankruptcy Court for the sale of the Company’s Proterra Transit business line to Phoenix Motor, Inc. (“Phoenix”). Proterra Transit is a leading manufacturer of zero-emission, electric transit vehicles serving the North American public transportation market. The consum...

 PRESS RELEASE

Proterra Receives Court Approval for Sale of Proterra Powered Business...

Proterra Receives Court Approval for Sale of Proterra Powered Business Line Proterra Transit Business Line Hearing Date Scheduled for December 12, 2023 BURLINGAME, Calif., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has received final approval from the U.S. Bankruptcy Court for the sale of the Company’s Proterra Powered business line to Volvo Battery Solutions LLC (“Volvo”). Proterra Powered leverages the Company’s industry-leading battery...

 PRESS RELEASE

Proterra Announces Results of Chapter 11 Sale of the Proterra Transit ...

Proterra Announces Results of Chapter 11 Sale of the Proterra Transit and Energy Business Lines Phoenix Motor, Inc. Selected as Winning Bidder to Acquire Proterra Transit CSI Selected as Winning Bidder to Acquire Proterra Energy Through Reorganization Sale Hearing Scheduled for November 28 for Bankruptcy Court to Approve Acquisitions BURLINGAME, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has successfully concluded the “Track A” a...

 PRESS RELEASE

Proterra Announces Results of Chapter 11 Sale of the Proterra Powered ...

Proterra Announces Results of Chapter 11 Sale of the Proterra Powered Business Line Volvo Battery Solutions LLC Selected as Winning Bidder to Acquire Proterra Powered “Track A” Auction for Proterra Transit and Energy Business Lines to Take Place on November 13, 2023 BURLINGAME, Calif., Nov. 10, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has successfully concluded the “Track B” auction of its Chapter 11 sales process and Volvo Battery Solutions LLC...

 PRESS RELEASE

Proterra Announces Strategic Initiatives to Strengthen Financial Posit...

Proterra Announces Strategic Initiatives to Strengthen Financial Position and Sharpen Technology Focus Files for Voluntary Chapter 11 Reorganization to Maximize Value of the Business & Product Line PotentialCompany Continues to Operate as a Leading Commercial Vehicle EV Technology Provider BURLINGAME, Calif., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (Nasdaq: PTRA) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company is taking action to maximize the value of its business and enhance the potential of ea...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch