Proterra Shares Rise 5% After Battery Deal With Vicinity Motor

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by Chris Wack

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Protera Inc. shares rose 5% to $10.73 on Thursday after the company said it was collaborating with Vicinity Motor Corp. to power Vicinity’s electric transit buses and trucks that work with Proterra’s battery technology.

Protera said that under a new, multi-year supply agreement, the Protera battery system will power the Vikinity Lightning 28-foot electric transit bus and Vikinity’s Stripe chassis platform to support multiple commercial vehicle configurations such as utility trucks, shuttle buses and box trucks. will provide.

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The agreement is expected to support Vicinity’s next-generation heavy-duty electric transit bus, as well as the VMC 1200 Class 3 work truck and VMC 1500 Class 5 work truck with the Protera battery system.

Protera said it will supply Visinity with a battery system to power at least 600 commercial electric vehicles by 2024. The Protera powered Vicinity Lightning vehicle is expected to begin production in the third quarter of 2022.

Write to Chris Wack at [email protected]

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