Daimler pours millions into electric bus company Proterra

TechCrunch | 9/19/2018 | Staff
smilingbearsmilingbear (Posted by) Level 4
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Proterra has raised $155 million in a funding round co-led by Daimler and Tao Capital Partner, a deal that could transform the school bus market in North America.

Until now, Proterra has focused on producing electric buses for municipal, federal and commercial transit agencies. The company has developed a line of electric buses that can travel 350 miles on a single charge, enough range to last entire day. Proterra has sold hundreds of its all-electric buses as cities try to reduce tailpipe emissions.

Investment - Catch - Proterra - Daimler - Company

This latest investment comes with a catch: Proterra will work with Daimler to possibly electrify the company’s Thomas Built Buses division, which manufactures a line of school...
(Excerpt) Read more at: TechCrunch
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