c/greenville · by newt@sh.itjust.works · 3y

EV Bus Company founded in Greenville files for bankruptcy

https://www.msn.com/en-us/money/companies/ev-parts-maker-proterra-files-for-bankruptcy/ar-AA1eXjH4

2 points · 2 comments · view on lemmy.world

2 Comments

jengland@toast.ooo · 2 pts · 3y (1 reply)

Proterra posted losses of $244 million in the first quarter of the year compared to a loss of $50 million in the same period last year. The company acknowledged its history of losses and admitted during its first quarter results it may not achieve profitability in the future.

Wow, that's a lot.

newt@sh.itjust.works · 2 pts · 3y

They’ve been having financial problems for the last few quarters, so it’s unfortunately not totally unexpected. Hoping those working in the Spartanburg plant don’t get laid off.