California-based electric bus and battery manufacturer Proterra Inc. has filed for Chapter 11 bankruptcy protection but plans to continue normal operations, the company announced Aug. 7.
Proterra operates two facilities in the Upstate — a bus manufacturing facility in Greenville at 1 Whitlee Court, and a purpose-built battery production facility near Greenville-Spartanburg International Airport in Spartanburg County.
The action was filed in the United States Bankruptcy Court for the District of Delaware on Aug. 8.
According to a statement on the company’s website, the firm intends to continue normal business operations and use existing capital to fund those operations, including payroll and vendor payments.
The company said the bankruptcy filing is part of an effort to strengthen its financial position “through a recapitalization or going-concern sale.”
“Proterra is at the forefront of the innovations that are driving commercial vehicle electrification,” Proterra CEO Gareth Joyce said in the statement. “We know we’re building industry-leading products that our customers want and need. … This is why we are taking action to separate each product line through the Chapter 11 reorganization process to maximize their independent potential.”
The company’s battery facility near Greer produced its first units in January. The plant is part of the company’s powered division, which develops batteries, drivetrains and e-mobility technology.
The Greenville facility is part of the company’s transit division, which produces electric buses for transit operators across North America. The company’s charging division produces EV charging systems.
