Federalist: Proterra, an electric bus and battery company that President Joe Biden touted as a success of his green energy initiative, filed for bankruptcy in August. Last week, it finally sold its embattled battery business at a rock-bottom price as part of the bankruptcy proceeding. The rise and fall of Proterra demonstrates once again that politicians should refrain from betting taxpayers’ money on business ventures to advance their political agenda.
According to the Wall Street Journal, Proterra has sold only 550 electric transit buses since its founding in 2004. Most of the sales were underwritten by government agencies with federal grants. Proterra’s electric buses were plagued with mechanical defects and other performance issues, such as limited range and long charging times. Besides government subsidies, the company only survived as long as it had due to powerful political connections. Former Michigan governor Jennifer Granholm, Biden’s energy secretary, served on its board. more
Everyone who bribed a government official or was a government official made out like a bandit on the deal.
So it did exactly what it was supposed to do.
Wonder if they made batteries for electric fire trucks?
…I’ll take “Ironic Death” for $1000, Alex….
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Betting taxpayer’s money? That’s the symptom.
They all made out just fine. The taxpayers got the shaft.
You can bet all the Chief Operating Officers at Proterra made out like bandits. Literally.
On a long enough timeline, the survival rate for everyone drops to zero.
To my fellow IOtWReport readers: May your timeline extend beyond Brandon’s.
If I didn’t already know that government is virtuous and always thinking ahead to protect the welfare of the citizens, I might be tempted to see this electric bus business as a scam from the get-go with both sides colluding for money and power.
Its risky stopping for Gasoline in Shit Hole cities for 5 minutes.
Sitting in an Electric $$$ Tesla or Other & Charging for 30 minutes in the Hood is waiting to get killed.
Shitpants has skated on any accountability for his entire life.
You can’t expect him to be held responsible for ANYTHING at this point.
Just keep in mind ALL those politicians (alive or deceased, and across (Uni)Party lines) who professed their brotherly love for him!
This administration is “saving the planet” one Bankruptcy at a time!
Since I’m 70 and it will be another 11 years or so until I turn 81, joey will long since have assumed room temperature. I plan on sticking around for a while longer since my dad was almost 89 and my mom almost 93.
Becoming??? Proterra, like Solyndra, was a designed scam from the git go. Like all green initiatives, it was only meant to remove the green from taxpayers’ wallets to the bottomless pockets of politicians.
Three-quarters of Edmonton’s $60-million electric bus fleet not roadworthy the city’s 60-bus electric fleet is in the garage with poor immediate prospects for parts to fix them.
Proterra, the American company the city purchased the electric buses from between 2019-2022, is in Chapter 11 filing for bankruptcy protection. Edmonton’s on a list of creditors, seeking $1.3 million and fulfillment of service and warranties.
https://www.msn.com/en-ca/news/canada/more-than-half-of-edmontons-60-million-electric-bus-fleet-not-roadworthy/ar-AA1kpKwr