29 Jun '17, 6am

#BMW invests in US bus manufacturer #Proterra

#BMW invests in US bus manufacturer #Proterra

BMW INVESTS IN BUS MANUFACTURER PROTERRA Proterra, innovator in heavy-duty electric transportation, recently announced that it has closed a $55 million Series 6 stock round, on the heels of an oversubscribed $140 million Series 5 in January. Generation Investment Management LLP, a long-term, sustainability-focused investment firm led the round, which was joined by BMW i Ventures, the corporate venture capital team founded by BMW Group in 2011. As Proterra continues to build upon its 60 percent market share in the North American electric transit market, this investment will support the company’s East and West coast production capabilities and its commitment to ongoing technology innovation. Former U.S. Vice President and Generation Investment Management Chairman Al Gore said, “More than ever before, cities are looking for sustainable transportation solutions that can reduce...

Full article: https://www.busworld.org/articles/detail/3285/bmw-invests...

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