Proterra closes sale of battery assets to Volvo for $210 million

By Sarah Lizee

Olympia, Wash., Feb. 1 – Proterra Inc. closed the sale of its Proterra Powered business to Volvo Group for $210 million, according to a notice filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The assets include a development center for battery modules and packs in California and an assembly factory in South Carolina.

Burlingame, Calif.-based Proterra designs and manufactures zero-emission electric transit vehicles and EV technology solutions for commercial applications. The company filed bankruptcy on Aug. 7 under Chapter 11 case number 23-11120.

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