Electric bus maker Proterra files for Chapter 11 bankruptcy protection

Electric bus, van 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 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.