As part of its mission to invest in next-generation transportation technologies,
General Motors Ventures, LLC, the venture capital arm of General Motors (
News -
Alert), is putting $6 million into
Proterra, Inc., a leading maker of
zero-emission commercial transit buses.
GM Ventures is part of an investment group, led by venture capital firm Kleiner Perkins Caufield & Byers that will invest a total of $30 million in the Golden, Colorado-based bus manufacturer.
Proterra’s EcoRideBE-35 battery electric bus is averaging up to 24 mpg (diesel equivalent) in service – a more than 600-percent improvement over a typical diesel bus. Paired with the EcoRide BE-35 is Proterra’s proprietary FastFill charging station, which docks with the lightweight, composite-body bus automatically and fast charges through a rooftop connection.
With up to a 40-mile range for the under 10-minute fast charge application, the EcoRide BE-35 can easily replace 80 percent of diesel buses in typical transit and shuttle use without altering schedules or passenger service. The EcoRide can also be configured for longer ranges while charging at a central location.
Three EcoRide BE-35 buses are being tested near Pomona, California, with additional buses to be added to the pilot fleet. New buses and charging stations will head to San Antonio, Texas, and Tallahassee, Florida. later this year.
This investment allows Proterra to complete federal validation testing of its bus, roll out additional pilot fleets, and complete initiatives to significantly reduce costs and increase volume production at its Greenville, South Carolina, manufacturing plant, which will have the capacity to produce 400 buses annually.
“This equity investment further demonstrates GM’s commitment to electric propulsion and supports our commitment to identify and invest in technology solutions that help advance the global transportation industry,” said Jon Lauckner, president of GM Ventures. “While this investment will help Proterra commercialize its electric bus and fast-charging technology, it also helps to address the future challenges of urban mobility.”
“With the support of GM’s automotive expertise and technology leadership, we can achieve a better, cleaner future for public transportation,” said Jeff Granato, president of Proterra. “We are proud to have General Motors on board.”
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Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.Edited by
Jennifer Russell
