Electric Bus Manufacturer Proterra Receives Funding from BMW and Al Gore
Electric cars seem to be all the rage these days, with more news about them emerging every day. However, they aren’t the only vehicles going electric. Take buses for example. Proterra, a U.S.-based public transportation company, has recently been delivering fleets of electric buses to different cities across the country. Of course, a group like Proterra could always use a little help. This is why the team at Proterra will be happy to hear that they are receiving funding from two different sources: BMW i Ventures and former Vice President Al Gore.
Together, BMW and Al Gore’s investment in Proterra will provide the transportation company with $55 million worth of funding. Proterra will work directly with BMW’s i Ventures division and Gore’s investment firm, Generation Investment Management LLP. All of that new funding will definitely come in handy, as Proterra is planning on testing autonomous technology for its electric buses. That testing will be co-facilitated by the University of Nevada and will take place in Reno, Nevada.
A majority of the funding will be used to increase production numbers for the company’s fleet of electrified buses. Since its inception, Proterra has sold more than 400 vehicles in cities like Seattle, Philadelphia, Los Angeles, and Dallas.
“This is an extremely exciting time at Proterra as our customers, supporters and investors—new and old alike—rally behind our vision for a clean, electric transportation ecosystem,” said Ryan Popple, CEO of Proterra. “We’re incredibly grateful to our new investors, and are proud to call them partners as we strive to eliminate fossil fuel dependence throughout the transit industry.”
To see the electric buses from Proterra in action, check out the video below:
Source: The Drive
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