Proterra bankruptcy (2023)
Proterra, a US electric bus maker, filed for Chapter 11 bankruptcy in August 2023 despite growing revenue. The company had raised hundreds of millions but couldn't achieve profitability.
Proterra sold its assets and continued operations under new ownership.
Showed that EV manufacturers can scale revenue but still fail without profitability.
Like Einride, Proterra grew revenue and expanded but couldn't sustain its finances. Einride faces similar challenges with negative equity and going-concern doubts.
