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Truckmaker Volvo to buy Proterra's battery business for $210 mln
13 Nov, 2023 / 07:27 AM / OMNES Media LLC

Source: http://www.reuters.com

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STOCKHOLM (Reuters) - Swedish truckmaker Volvo (VOLVb.ST) said on Friday it had won an auction for the battery business of troubled Proterra in the United States with a $210 million bid.

The auction was part of the electric vehicle part supplier's ongoing US Chapter 11 bankruptcy protection process.

Volvo said in a statement it aimed to finalise the acquisition, which is pending approval by the bankruptcy court, early next year.

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