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Proterra announces EV battery factory in South Carolina as demand for commercial electric vehicles grows

12/14/2021
  • Proterra expands manufacturing to support growing demand for its market-leading high-energy density, long-life electric vehicle battery systems

  • New factory in Greer, South Carolina will manufacture battery systems for Proterra Powered customers’ electric vehicles, including delivery and work trucks, industrial equipment, buses, and more
  • The factory is planned to begin production in second half of 2022 with multiple gigawatt hours of annual battery system production capacity
  • Proterra commits to a minimum investment of at least $76M and expects to create more than 200 new jobs to produce industry-leading commercial vehicle battery systems and EV technology
  • South Carolina factory represents Proterra’s first battery manufacturing facility in the Eastern United States and its third nationwide
  • The factory will leverage Proterra’s innovative and modular battery system manufacturing platform to enable capital efficient and scalable production output

GREER, S.C., Dec. 14, 2021 (GLOBE NEWSWIRE) -- As demand for commercial electric vehicles continues to grow across the United States and around the world, Proterra Inc (NASDAQ: PTRA), a leading innovator in commercial vehicle electrification technology, today announced plans to open a new EV battery system manufacturing plant in South Carolina to produce the company’s industry-leading battery systems for Proterra Powered customers’ commercial electric vehicles, including delivery and work trucks, industrial equipment, buses, and more.

Proterra has committed to a minimum investment of at least $76 million, with additional investments planned over the next several years, and expects to create more than 200 new jobs over the next several years at the 327,000 square foot battery system production plant. The factory is expected to launch in the second half of 2022 with multiple gigawatt hours of annual production capacity for Proterra’s battery systems. By 2025, the factory is expected to support additional battery system production capacity, as well as the production of ancillary systems incorporated into electric medium- and heavy-duty electric vehicles and equipment.

Proterra’s new battery system manufacturing facility will be located at the 42.76-acre Carolina Commerce Center in Greer, South Carolina near Proterra’s electric bus manufacturing facility in Greenville, South Carolina and adjacent to the Greenville-Spartanburg International Airport. By opening the company’s first EV battery system factory on the East Coast of the United States, Proterra will bring battery production closer to its Proterra Powered customers and its own Proterra Transit electric bus manufacturing operations.

“Electric vehicle technology is an opportunity to create clean energy jobs, strengthen American manufacturing, and advance the U.S.’s climate leadership on a global scale. Through opening our new battery system production plant, Proterra is proud to help realize these important goals while driving the transition to clean, quiet transportation with our EV technology,” said Gareth Joyce, President of Proterra. “With our company’s history in South Carolina and the Upstate region, we are excited to build on our strong partnership with the state of South Carolina, Spartanburg County, and the City of Greer and bring EV battery system manufacturing to the region.”

“Today’s announcement by Proterra is further proof that South Carolina is leading the charge in the electric vehicle revolution. We applaud Proterra for the work they’re doing to create a more sustainable future for the transportation industry and look forward to their continued success in the Upstate,” said South Carolina Gov. Henry McMaster.

“It’s clear that South Carolina is focused on the future. We’ve worked hard for years to cultivate our reputation as a global leader in the automotive industry, and we will ensure our continued success with the speed we are gaining in the electric vehicle market. We congratulate Proterra on their new facility in Spartanburg County,” said South Carolina Secretary of Commerce Harry M. Lightsey III.

“Proterra expanding their South Carolina operations with a presence in Spartanburg furthers our county’s status as an automotive leader, a manufacturing leader and the Upstate’s status as a leader in electric vehicles,” said Spartanburg County Council Vice-Chairman and Chairman of the Economic Development Committee David Britt.

Proterra’s new South Carolina factory represents the company’s third battery production facility nationwide. In December 2020, the company opened its second battery production site co-located in its EV bus manufacturing facility in Los Angeles County.

Designed and manufactured in the United States, Proterra’s battery systems have been proven through more than 20 million service miles driven by its transit customers and selected by world-class commercial vehicle manufacturers to electrify delivery vehicles, work trucks, construction and mining equipment, school buses, coach buses, and more

About Proterra

Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. With industry-leading durability and energy efficiency based on rigorous U.S. independent testing, Proterra products are proudly designed, engineered, and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles. For more information, please visit www.proterra.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, statements related to future demand for commercial electric vehicles, the amount of Proterra’s expected investment in its planned battery factory, the number of jobs expected to be created in connection with the planned factory, the expected timing, capabilities and production capacity of the planned factory, and the product lines to be launched by the planned factory, as well as Proterra’s other expectations for the future. Forward-looking statements are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks and uncertainties set forth in the sections entitled “Risk Factors” in the Proterra’s prospectus dated July 9, 2021 filed with the SEC on July 9, 2021, and Proterra’s annual and quarterly reports and other filings with the SEC. The forward-looking statements included in this press release speak only as of the date they are made. Proterra assumes no obligation to update or revise these statements. Proterra does not give any assurance that it will achieve its expectations.

Media Contact

Proterra Corporate Communications

PR@proterra.com

Investor Contact

Proterra Investor Relations

IR@proterra.com

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/411ac49d-1e5f-44ec-a187-170be099612d

https://www.globenewswire.com/NewsRoom/AttachmentNg/61185080-db3d-4d02-bdb2-07b48e3567e9

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b60cb6cd-a888-4a93-94d0-296faa74a71d 


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Proterra's new Spartanburg County EV battery system manufacturing facility (building rendering)

Proterra's new Spartanburg County EV battery system manufacturing facility (building rendering)
Proterra's new Spartanburg County EV battery system manufacturing facility (building rendering)

Proterra's new Spartanburg County EV battery system manufacturing facility (building rendering)
Source: Proterra Inc.

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