Proterra Inc. and Proterra Operating Company Inc. are in a voluntary Chapter 11 bankruptcy process in the US. Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of USD 210M.
This is Volvo Trucks (VLVLY OTC), a separate company from Volvo Cars (VLVOF OTC) which is majority-owned by Geely but publicly traded. Very interesting as Volvo has been moving quickly toward electric trucks.