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Proterra

EV buses/batteriesUSA
💀 Dead / Bankrupt
Peak $4 BillionToday
~-95%
from peak
  1. 🦄
    Became a unicorn
    2018
  2. 📈
    Peak valuation
    $4 Billion ’21
  3. 💔
    Became a Unitard
    Aug 2023
  4. 💸
    Last valuation
    ~$0
Current status
Chapter 11 (Aug 2023); battery unit to Volvo

How it happened

Proterra was a maker of electric transit buses and EV battery systems, valued at ~$4B when it went public via SPAC in 2021. Manufacturing difficulties and cash constraints undermined its bus business. It filed for Chapter 11 bankruptcy in August 2023; its battery unit was subsequently acquired by Volvo, with the stock down roughly 95% from peak.

Source: Fortune/Canary Media