Proterra Inc. and Proterra Operating Company Inc. are in a voluntary Chapter 11 bankruptcy process in the US. Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of USD 210M.
Well their parent Volvo Group. Volvo Trucks is one of their divisions. They have also Volvo Construction Equipment, Volvo Penta marine engines division and bunch of others. Still yeah, not the Geely subsidiary, which got spun out of the main Volvo Group.
Although funny enough Geely also owns a stake in Volvo group; a bit under 10% or so
Lot of fingers in a lot of pots