Proterra CEO Gareth Joyce said the company faced "Various market and macroeconomic headwinds" that impacted its ability to "Efficiently scale." The EV company received taxpayer money from Joe Biden's so-called 'infrastructure plan' in 2021.
Even worse, Energy Secretary Jennifer Granholm was heavily invested in Proterra and made millions from stock options.
Jennifer Granholm Biden took a 'virtual tour' of Proterra in April 2021 and heavily promoted the EV firm.
"Neither Secretary Granholm nor the Department of Energy were involved in selecting the Proterra plant." Proterra's shares tumbled on Monday.
According to reports, Proterra was valued at $1.6 billion in January 2021 - while the Biden Regime was heavily promoting the company.
Proterra, whose shares nearly halved in value after the bell, listed its assets and liabilities in the range of $500 million to $1 billion.
Liberals Scream for her Dismissal Afterwards A California transit official previously said electric buses manufactured by Proterra were melting in the California heat.
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