NATIONAL NEWS

Electric bus maker Proterra files for Chapter 11 bankruptcy protection

Aug 8, 2023, 2:38 PM

BURLINGAME, Calif. (AP) — Electric bus and truck maker Proterra says it is seeking Chapter 11 bankruptcy protection from a federal court in Delaware.

The Burlingame, California, company is a big supplier of buses to transit systems across the nation. A statement on Proterra’s website Monday said that it intends to maintain normal operations and will file motions with the court to use existing capital to keep funding operations, including paying employees, vendors and suppliers.

President Joe Biden visited the company’s factory in South Carolina in 2021 to highlight U.S. electric vehicle makers.

The company said in the statement that it’s taking action to separate its business units “to maximize their independent potential.” It sells heavy truck, van, bus and off-highway equipment equipment in the U.S., European and Asia-Pacific markets.

“While our best-in-class EV and battery technologies have set an industry standard, we have faced various market and macroeconomic headwinds, that have impacted our ability to efficiently scale all of our opportunities simultaneously,” CEO Gareth Joyce said in the statement. “As commercial vehicles accelerate towards electrification, we look forward to sharpening our focus as a leading EV battery technology supplier for the benefit of our many stakeholders.”

Shares in Proterra Inc. closed Tuesday down more than 88% at 17 cents.

National News

File - Graduating Harvard University students celebrate their degrees during commencement ceremonie...

Associated Press

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause

NEW YORK (AP) — Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars a month. To get ready, borrowers are cutting expenses, taking on additional work, and looking for options to reduce their monthly payments. Megan McClelland, 38, said she has started asking for […]

2 hours ago

Associated Press

Illinois semitruck accident kills 1, injures 5 and prompts ammonia leak evacuation

TEUTOPOLIS, Ill. (AP) — A semitruck carrying ammonia overturned in an Illinois county, spilling the chemical and causing an evacuation of area residents Friday night, police said. The Effingham County Sheriff’s Office said the accident happened less than 1 mile (1.6 kilometers) east of Teutopolis near an intersection of Route 40 and residents were evacuated […]

5 hours ago

Associated Press

New York stunned and swamped by record-breaking rainfall as more downpours are expected

NEW YORK (AP) — One of New York’s wettest days in decades left the metropolitan area stunned and swamped Friday after heavy rainfall knocked out several subway and commuter rail lines, stranded drivers on highways, flooded basements and shuttered a terminal at LaGuardia Airport for hours. Some 8.65 inches (21.97 centimeters) of rain had fallen […]

7 hours ago

In this photo provided by the Ocean Exploration Trust, the chrysanthemum flower crest, an honored i...

Associated Press

Video provides first clear views of WWII aircraft carriers lost in the pivotal Battle of Midway

Footage from deep in the Pacific Ocean has given the first detailed look at three World War II aircraft carriers that sank in the pivotal Battle of Midway and could help solve mysteries about the days-long barrage that marked a shift in control of the Pacific theater from Japanese to U.S. forces. Remote submersibles operating […]

7 hours ago

Associated Press

On the brink of a government shutdown, the Senate tries to approve funding but it’s almost too late

WASHINGTON (AP) — The United States is on the brink of a federal government shutdown after hard-right Republicans in Congress rejected a longshot effort to keep offices open as they fight for steep spending cuts and strict border security measures that Democrats and the White House say are too extreme. With no deal in place […]

8 hours ago

FILE - Federal prosecutor Leo Wise poses for a photograph at the U.S. Attorney's Office in downtown...

Associated Press

Prosecutor in Hunter Biden case cut a contentious path in Baltimore

BALTIMORE (AP) — Before being assigned to investigate President Joe Biden’s son, Leo Wise built a reputation in Baltimore as a tough and hard-charging federal prosecutor, taking on powerful, and seemingly untouchable, figures — whether a gang of corrupt cops, a police commissioner, a top local prosecutor and even a mayor. Wise’s backers call him […]

8 hours ago

Sponsored Articles

Swedish Cyberknife...

September is Prostate Cancer Awareness Month

September is a busy month on the sports calendar and also holds a very special designation: Prostate Cancer Awareness Month.

Ziply Fiber...

Dan Miller

The truth about Gigs, Gs and other internet marketing jargon

If you’re confused by internet technologies and marketing jargon, you’re not alone. Here's how you can make an informed decision.

Education families...

Education that meets the needs of students, families

Washington Virtual Academies (WAVA) is a program of Omak School District that is a full-time online public school for students in grades K-12.

Emergency preparedness...

Emergency planning for the worst-case scenario

What would you do if you woke up in the middle of the night and heard an intruder in your kitchen? West Coast Armory North can help.

Innovative Education...

The Power of an Innovative Education

Parents and students in Washington state have the power to reimagine the K-12 educational experience through Insight School of Washington.

Medicare fraud...

If you’re on Medicare, you can help stop fraud!

Fraud costs Medicare an estimated $60 billion each year and ultimately raises the cost of health care for everyone.

Electric bus maker Proterra files for Chapter 11 bankruptcy protection