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Proterra to deliver 42 electric buses and 75 chargers to Miami-Dade transit agency

Proterra (NASDAQ: PTRA) and Miami-Dade County have announced a major fleet electrification project. The Florida metropolis will acquire an additional 42 Proterra ZX5+ electric transit buses, bringing its total fleet of Proterra electric buses to 75. Proterra will install 75 of its branded chargers, packing a total of 9 megawatts of power, at 3 bus depots. The first of the e-buses are to be delivered in 2022.

The company’s Proterra Energy division offers a turnkey package for heavy-duty electric fleets, including charging infrastructure design, build, financing, operations, maintenance and energy optimization.

“This is a major step forward in Miami-Dade County’s commitment to incorporate clean, renewable energy to protect our environment and offer better transportation options,” said Miami-Dade County Mayor Daniella Levine Cava. “With these new electric buses, Miami-Dade will lead the way with the largest sustainable transportation fleet in Florida and one of the largest in the nation.”

Proterra began trading on NASDAQ last week after finalizing its SPAC deal with ArcLight Clean Transition. The stock market liked the Miami news, and gave the new stock a respectable boost.

Meanwhile, Proterra announced plans to establish a US battery cell manufacturing facility “within the next few years.” Bloomberg reports that Proterra, which has a supply agreement with LG Energy Solution through 2022, foresees investing $100 million to $120 million in domestic cell capacity.

Sources: Proterra, BloombergQuint

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