Proterra Inc - Commercial Electric Vehicle Technology Solutions

Founded in 2004 by Dale Hill, Proterra Inc is an automobile company that develops commercial electric vehicle technology solutions. The company's core technologies are battery technology and drive train development. It has customers in the transportation, construction, emergency response, and heavy duty trucking industries. The company also provides battery systems to OEMs. The company's product portfolio includes electric buses, charging stations, and drive trains.

The company recently announced a new battery factory in Greer, South Carolina. This facility will have the capacity to produce multiple gigawatt hours of annual battery system production. The plant is expected to be operational in the second half of 2022. This capacity will increase Proterra's ability to ramp up manufacturing volumes and to benefit from scale.

In the second quarter of 2018, Proterra reported record quarterly revenue of $59 million. This was up from $143 million in the year-ago period. The company's powered and energy products segment was the fastest growing, accounting for one-third of the company's total revenue. The segment produced 41 MWh of batteries for third-party sales. The Proterra plant in Burlingame, California has an annual capacity of 345 megawatt hours.

The Proterra Powered group has secured contracts with Daimler's Thomas Built Buses, Freightliner Custom Chassis Corporation, and Van Hool. The company is currently working with Komatsu to develop an EV-powered excavator.

The Proterra Transit business unit sells electric transit buses to North American public transit agencies and university campuses. This division has a strong order backlog for buses. A recent infrastructure plan by President Joe Biden will replace thousands of school buses and transit buses with electric ones. It is estimated that by the end of the decade, over half of the buses sold in North America will be electric. This is a major step toward reducing greenhouse gas emissions.

In January 2017, Proterra received purchase orders from 15 local transit authorities. The company also has a strong order backlog for battery systems. It is forecasting a positive gross margin for the remainder of the year. In addition, Proterra expects to extend its supply agreement for battery cells through 2028. The company also plans to invest about $76 million in a new battery factory.

Proterra's revenue is projected to be $246 million in the year ahead. The company is targeting EBITDA of $500 million by 2025. The company expects to grow its annual shipment volume to 2,500 to 3,000 buses a year. In the first nine months of 2021, Proterra shipped 154 buses and 134 battery systems. Its revenue increased by 38 percent in the year-ago period.

The company's battery-electric buses decrease the amount of carbon dioxide emitted by the bus fleets by more than 200,000 pounds. Proterra's buses operate in communities in California and the United States. They are currently in service with 120 customers in the U.S. and Canada.

The company's mission is to improve the environmental impact of the transportation sector through the use of electric technology. The company's total addressable market is estimated to be more than $260 billion worldwide. Its competitive advantage lies in the company's expertise in electric vehicle technology.