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811 The Electric: The Valley of Death Takes Out Another EV Maker

The Information
Steve LeVine @ The Information · 08/10/2023 07:30 EDT

The Electric: The Valley of Death Takes Out Another EV Maker

In May, Michael Shlisky, an analyst with investment bank D.A. Davidson, listened to electric truck and bus manufacturer Proterra’s first-quarter earnings call and was impressed: Just a few months earlier, the Burlingame, Calif., company’s share price had been in free fall, plunging 79% in six weeks, in part because it had been burning through cash. But now, the company reported that it had $296 million in cash on hand at the end of March, virtually the same as in the prior quarter; company executives crowed

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