Proterra sells battery leases to Phoenix Motor for $6.5 million

By Sarah Lizee

Olympia, Wash., Feb. 8 – Proterra Inc. closed the sale of some of its battery leases to Phoenix Motor Inc., according to an 8-K filed with the Securities and Exchange Commission.

The purchase price was about $6.5 million.

The U.S. Bankruptcy Court for the District of Delaware approved the sale on Jan. 9.

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, 2023 under Chapter 11 case number 23-11120.

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