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Electric Bus Company Proterra Backed Heavily
by Biden Administration Files for Bankruptcy

Original Article

Posted By: mc squared, 8/9/2023 12:07:28 PM

Proterra, an electric bus company that received heavy backing from President Joe Biden’s administration, filed for bankruptcy on Monday. The Burlingame, California-based EV company has been a source of controversy for the Biden administration because Biden’s Energy Secretary Jennifer Granholm hyped the company in her official capacity despite the fact that she previously served on Proterra’s board and held over a million dollars worth of stock in the company even after she was confirmed as the head of Biden’s Energy Department. /snip/ Three months into his presidency, Biden held a virtual tour of the electric bus company’s South Carolina factory to promote his $1.9 trillion infrastructure plan.

Comments:

Shades of Solindra. 2009: Obama's Secretary of Energy Steven Chu announced Solyndra would be the recipient of a $535 million loan from his department.
Just a bad memory now.

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Reply 1 - Posted by: enemyofthestate 8/9/2023 12:10:17 PM (No. 1531091)
This is what happens when goobermint tries to set the outcome.
17 people like this.

Reply 2 - Posted by: thomthomp 8/9/2023 12:29:21 PM (No. 1531105)
Typical socialist program based on specious logic: Utter failure, investors and taxpayers lose, perpetrators go unpunished and move on to their next idiotic idea.
13 people like this.

Reply 3 - Posted by: Safari Man 8/9/2023 12:41:36 PM (No. 1531121)
Proterra bilked the proletariat.
9 people like this.

Reply 4 - Posted by: marbles 8/9/2023 12:42:12 PM (No. 1531124)
Follow the money
9 people like this.

Reply 5 - Posted by: JunkYardDog 8/9/2023 12:46:21 PM (No. 1531128)
Democrats LOVE to spend our money...but it all goes into a black hole.
11 people like this.

Reply 6 - Posted by: DVC 8/9/2023 12:58:24 PM (No. 1531137)
Just like Solyndra, I'll bet. All the money bled out to big salaries and the product is crap, and no money left for "development".....Oh, darn, we're bankrupt - after my bank account has $2 million in it for "salary" or "consulting fees". Bye!
11 people like this.

Reply 7 - Posted by: Ashley Brenton 8/9/2023 1:04:28 PM (No. 1531141)
Don't worry, folks. They only declare bankruptcy AFTER they've kicked a portion of the grant money back to the DNC and individual campaigns and PACS. Then the CEOs and higher-ups get good jobs in government.
13 people like this.

Reply 8 - Posted by: Nimby 8/9/2023 1:09:08 PM (No. 1531150)
Those are our tax dollars, going down the drain.
9 people like this.

Reply 9 - Posted by: Starboard_side 8/9/2023 1:11:37 PM (No. 1531152)
Ah, don't worry Granholm was able to sell her shares, make a few million profit, and other connected people did well too.
10 people like this.

Reply 10 - Posted by: Luandir 8/9/2023 1:35:54 PM (No. 1531166)
TRANSLATION: "[V]arious market and macroeconomic headwinds," which are represented as some kind of uncontrollable force of nature, really means, "We built a turkey of a product that no one was willing to spend real money on."
5 people like this.

Reply 11 - Posted by: Quigley 8/9/2023 1:51:50 PM (No. 1531171)
Ahhhhh. And Kamel A Hairass likes buses so much. She LOVES Venn diagrams of statistics relating to buses.
5 people like this.

Reply 12 - Posted by: volksford 8/9/2023 1:51:54 PM (No. 1531172)
Here in our neck of the woods (N Fl) our new Dem mayor has voiced her support for electric buses and fire engines. Totally predictable
6 people like this.

Reply 13 - Posted by: DVC 8/9/2023 3:02:45 PM (No. 1531206)
In 1973, the research team of grad students that I was a part of purchased a prototype electric bus from the failing, soon to be failed, Electrobus company. We knew that electric buses wouldn't work, but for emission control reasons in those pre-computerized engine controls days, we converted it to a hybrid electric bus. My computer modeling of the entire bus system, and "running" the model on the driving cycle specified by the EPA showed that it would work. And it did work, just fine, although somewhat different....a series hybrid unlike today's parallel hybrids. Our setup was most like the Chevy Volt where the gas engine drives a generator, charges the battery, doesn't drive the wheels like a Prius. In any case....we used the Electrobus prototype...because the company had failed to sell any after years of taking it around the country trying to sell them. It was a stupid idea then, and is still a stupid idea. We made the hybrid work, one of the first in the world, and my computer model was within 1/2% of the actual test data once we converted the electric to a hybrid and tested it. Hybrids can work but only make sense for stop and go city driving, not if much highway driving is intended. EVs are short range commuter vehicles at best, hopeless for cross country travel, and will remain such until "Mr. Fusion" from Back to the Future, Part II becomes reality --- which is never.
5 people like this.

Reply 14 - Posted by: DougTN 8/9/2023 4:29:41 PM (No. 1531264)
Democrats love to spend other peoples money…
1 person likes this.

Reply 15 - Posted by: mseegal 8/9/2023 4:40:51 PM (No. 1531266)
Solyndra, anybody?
2 people like this.

Reply 16 - Posted by: Hermit_Crab 8/9/2023 6:20:30 PM (No. 1531333)
I wonder how many of the Executives at Proterra were Executives at Solyndra.
1 person likes this.

Reply 17 - Posted by: TarAndFeathers 8/9/2023 6:42:31 PM (No. 1531347)
Not to worry, Biden donors. Joe’s take will not be returned.
0 people like this.

Reply 18 - Posted by: MickTurn 8/9/2023 11:26:28 PM (No. 1531448)
This is how the Commie Left operates...pass a law that gives a boatload of Cash to their sycophants, the company then files for Bankruptcy and steals all the money. THIS IS A PATTERN!!!!!!!!!
0 people like this.

Reply 19 - Posted by: mifla 8/10/2023 4:18:17 AM (No. 1531493)
Deja vu all over again. Don't worry, plenty more taxpayer money around.
0 people like this.

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