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/PRNewswire/ -- The Volvo Group has today completed the previously announced transaction whereby the Group acquired the battery business from Proterra Inc. and...
GOTHENBURG, Sweden, Feb. 1, 2024 /PRNewswire/ -- The Volvo Group has today completed the previously announced transaction whereby the Group acquired the battery business from Proterra Inc. and...
GOTHENBURG, Sweden, Feb. 1, 2024 -- The Volvo Group has today completed the previously announced transaction whereby the Group acquired the battery business from Proterra Inc. and Proterra Operating Company Inc. The acquisition, which was made at a purchase price of USD 210M before adjustment for inventory level at closing, includes a development center for battery modules and packs in California and an assembly factory in Greer, South Carolina.
Delaware-based Volvo Battery Solutions LLC has agreed to pay $210 million for Proterra Powered in a Chapter 11 bankruptcy auction, both companies announced Nov. 10.
10 battery-electric heavy-duty buses are scheduled to join the fleet in Greater Victoria beginning this summer.