Electric Bus Company Backed by Biden Files for Bankruptcy   – IOTW Report

Electric Bus Company Backed by Biden Files for Bankruptcy  

Breitbart: 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.

Proterra was founded in 2004 and, according to Canary Media, had raised “about $682 million in venture capital from investors including Daimler, Generation Investment Management, Kleiner Perkins, Tao Capital Partners, Soros Fund Management, Cowen Sustainable Advisors and GM Ventures to build electric buses that gained a foothold in early North American deployments.”

Biden has heavily promoted Proterra throughout his presidency, at one point saying the company would help America own “the future” if it kept on track. 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. MORE

15 Comments on Electric Bus Company Backed by Biden Files for Bankruptcy  

  1. What a scam, the buses were junk; no range, couldn’t make it up a mild grade, batteries are so heavy that the bus frames were cracking, and no spare parts for repair.

    10
  2. Gov’t “subsidies” are scams.
    Put tax dollars into the pockets of grifters who turn most of it back to the politicians who boondoggled it.
    Same old shit. Same old politicians. Same old taxpayers. Same old grifters.

    Corruption is lucrative to everyone except the dopes paying for it – and we’re too busy watching TV and drinking beer to give a fuck.

    mortem tyrannis
    izlamo delenda est …

    6
  3. Ford better wake up SOON.

    Their Electric Shit Boxes will take out the ENTIRE Company.

    PS. Remember Barry’s darling solar company SOLYNDRA – will most assets currently in ChYnA’s hands?

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