By Frank Andorka, Senior Correspondent
Yesterday will be remembered as a day when the United States got serious about transforming its aging fleet of buses from diesel-using dinosaurs into sleek new electric vehicles.
That’s when Proterra, a heavy duty electric transportation provider for the North American mass transit market, announced that it has closed a $155 million investment round co-led by Daimler, the world’s largest manufacturer of commercial vehicles.
In conjunction with the investment, Proterra and Daimler have entered into an agreement to explore the electrification of select Daimler heavy-duty vehicles, the first of which will be Damiler’s Thomas Built Buses for the school market, which Proterra believes is the next frontier for zero-emission, commercial fleets.
With predictable routes per day, school buses are right in Proterra’s wheelhouse – and they expect to compete with Blue Bird (currently the only company serving the school bus market with electric vehicles, as we reported on earlier this year) in short order. What is also really cool is that energy demand for the fleets would be dense and off-peak, thereby reshaping the Duck Curve once again.
This announcement represents a significant milestone in the commercialization of heavy-duty electric vehicles as both manufacturers work to bring zero-emission technology to an expanded set of vehicle segments. With a history and legacy that dates back nearly 150 years, Daimler will be able to provide Proterra with relevant experience in manufacturing commercial vehicles at scale, while Proterra will leverage its proven experience in battery-electric mass transit and provide access to its industry-leading electric vehicle technology.
“We are excited to collaborate with Daimler, and we appreciate their investment and support,” said Ryan Popple, Proterra CEO. “Daimler is a global leader in vehicles that serve almost every category and market. Over the past year, we’ve gained a great deal of respect for the engineering prowess, operational expertise, and environmental stewardship of the Daimler team. We also appreciate the continued support of our existing investors who share our vision of clean, quiet transportation for all.”
If we had to bet, we’d bet on Popple and his Proterra team. After all, as Managing Editor Yann Brandt explored with Popple in this podcast, he has an aggressive goal for the electrification of the heavy-duty trucking and bus markets – and is working hard to meet it. This partnership with Daimler moves that goal ever closer.