Proterra's CEO serves on a top White House advisory council
Proterra, the electric bus company repeatedly celebrated by President Biden, filed for bankruptcy Monday, blaming various market "headwinds" for its financial struggles.
The California-based company filed a voluntary Chapter 11 reorganization under the U.S. Bankruptcy Code in the District of Delaware to "strengthen its financial position." Proterra said it would continue to operate its business as normal – including paying employee salaries and benefits, and compensating vendors and suppliers – during the process.
Proterra, the electric bus company repeatedly celebrated by President Biden, filed for bankruptcy Monday, blaming various market "headwinds" for its financial struggles.
The California-based company filed a voluntary Chapter 11 reorganization under the U.S. Bankruptcy Code in the District of Delaware to "strengthen its financial position." Proterra said it would continue to operate its business as normal – including paying employee salaries and benefits, and compensating vendors and suppliers – during the process.
Green energy company Biden hosted at White House files for bankruptcy
An zero-emissions bus manufacturer filed for Chapter 11 bankruptcy despite being repeatedly celebrated by the White House and top administration officials.
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