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Benzinga
Benzinga
Business
Shivani Kumaresan

Proterra To Launch EV Battery Factory In South Carolina

  • Proterra Inc (NASDAQ:PTRA) plans to open a new EV battery system manufacturing plant in South Carolina.
  • The new 327,000 square foot plant will produce battery systems for Proterra Powered customers' commercial electric vehicles, including delivery and work trucks, industrial equipment, buses, and more.
  • Proterra has committed to a minimum investment of at least $76 million, with additional funds planned over several years. The company expects to create about 200 new jobs.
  • The factory is expected to launch in the second half of 2022.
  • Proterra's new battery system manufacturing facility will be located at the 42.76-acre Carolina Commerce Center in Greer, South Carolina.
  • Price Action: PTRA shares are trading lower by 2.86% at $9.02 on the last check Tuesday.
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