ProTerra (NYSE:PTRA) Waiting on Approval to Invest $89M in Spartanburg, South Carolina.
Commercial Vehicle battery manufacturer and assembler, ProTerra, headquartered in Greenville, South Carolina has applied for tax breaks to invest $89M in Spartanburg. It was reported on Dec. 7th by the Post and Courier. The hearing on the tax credit will be completed on December 13. In this Article I will be introducing ProTerra and which existing facility is found in Greer Area.
*Greenville, South Carolina
Spartanburg County Councilman David Britt told The Post and Courier in a Dec. 7 interview that he would defer to the company to share details of the investment. Britt said Proterra’s new operation would be located at an existing facility in Spartanburg County in the Greer area. (Post and Courier)
Greer, South Carolina
Greer, Spartanburg County, South Carolina is home to BMW's North American Headquarters and only manufacturing plant in the Americas! The BMW plant focuses on manufacturing of their X3, X5 and X7 SUVs. The BMW manufacturing plant is over 7 MILLION square foot and supplies jobs to more than 11,000 people in the area. ProTerra's $89M investment will create more than 200 jobs (Post and Courier). Could this be the start of a future where ProTerra manufactures mid size batteries for BMW X-Series SUVs?
BMW X3 - Proterra Powered?
The Zentrium, a unique looking building that doubles as a visitor center for BMW in Greer, features a BMW i8.
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ProTerra already has more than 20 million service miles in heavy duty applications. They specialize in transit buses, last-mile-delivery trucks, coach buses, shuttles, construction vehicles, and recently inked a deal with Komatsu to electrify mining machinery. ProTerra has already sold more than 1,000 electric buses to more than 130+ communities across 43 US States and Canadian Providences. Partnerships includes Thomas Built Buses (Dailmer), Volta Trucks (Recently sold 1,500 trucks to DB Scneker), Komatsu, Andolu Isuzu, Lightning eMotors, Penske, Taylor, Vanhool, BusTech, Freightliner and Optimal EV.
ProTerra's Batteries are industry leading! The ProTerra ZX5 can be equipped with 675 kWh of energy storage, to deliver up to 329 miles per charger, which represents the longest drive range for any 40 foot bus available in the market today. Which batteries could be used in the BMW X-Series SUVs?
BMW X-Series Batteries:
The S1 or the H-Series ProTerra Batteries would be perfect for the X-Series SUVs. Proterra H-Series are 82 kWh per pack. Proterra already makes the batteries needed for mid size vehicles.
Besides providing batteries, Proterra also specializes in Energy storage and EV Charging. Partnering with Power Electronics, ProTerra is able to provide fleet electrification solutions and able to provide additional energy to the grid.
Charging stations of 75 kW, 150 kW, 250kW, 500kW and also the Dispenser:
*Charging solutions for Fleets under 10 vehilces.
ProTerra 1.5 MW Charging System:
*1.5 MW system can charge up to 40 vehicles in a single charging cycle. 20 simultaneously and then automatically switching to the next 20 in line.
On November 17th, 2021, I went to visit ProTerra's manufacturing plant in Greenville, South Carolina. I noticed that many cars were parked on the road and in the back because the parking lot was completely full. Two weeks later, news of an $89M investment to expand!
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Why I know this could happen. There is a company called BYD (NYSE: BYDDY) that began its story making making electric heavy duty vehicles, with a focus on buses. Today, they own their own line of cars and sold over 90,000 in the NOVEMBER alone.
Congratulations ProTerra and Spartanburg, South Carolina!