Proterra reports 27% sales increase, USD238m loss in 2022
By Bradley Osborne - 5th April 2023
USA – Proterra Inc, a manufacturer of EV products1 based in Burlingame, California, reported revenues of USD309.4m in 2022, a 27% increase on its sales the year before.
While sales were positive, Proterra suffered a USD238m net loss for the year and adjusted earnings before interest, taxes, depreciation, and amortisation of minus USD172.8m. This continues the trend of year-on-year losses for the company. Challenges cited by the company included parts shortages, inflation, and other costs associated with starting up production at the new battery plant in South Carolina. Proterra says that it is taking measures to cut costs, including the termination of manufacturing in California.
