The world leading magazine of heavy lifting and transport equipment for construction, energy, maritime and industry

Volvo to Acquire Proterra’s Battery Business 

Volvo Group
Rate this post

Volvo Group emerges as the winning bidder, securing Proterra Inc.’s battery business in a USD 210M deal amid the voluntary Chapter 11 bankruptcy proceedings.

The transaction, pending court approval and expected to close in early 2024, encompasses assets like a California-based battery development center and a South Carolina assembly factory. This strategic acquisition enhances Volvo’s battery-electric roadmap with no material impact on financial performance.

Share This Post: