The electric vehicle and storage company, which has been featured by President Joe Biden on multiple occasions, filed for bankruptcy after the New York Stock Exchange closed on Monday night, according to Reuters. It valued its assets and liabilities at somewhere between $500 million and $1 billion, down from $1.6 billion in January 2021.
Biden also participated in a virtual tour of a Proterra manufacturing facility in South Carolina in 2021, where he revealed he used to be a bus driver.
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