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    1. Earthmoving

    Volvo to buy battery maker Proterra

    Nov. 10, 2023
    If approved, the deal will give Volvo a battery development center in South Carolina.
    Rod Sutton
    Volvo Construction Equipment
    A Volvo EC230 electric excavator.
    A Volvo EC230 electric excavator.

    Volvo Group will acquire Proterra out of bankruptcy, pending approval from the court. Volvo’s winning bid for the business and assets of the Proterra Powered business was $210 million, according to the company.

    Proterra Powered provides electric vehicle technology for heavy-duty transportation, according to its website, and has totaled more than 40 million miles in transit.

    Read also: Sustainability is more than a buzzword

    The assets to be acquired include a development center for battery modules and packs in California and an assembly factory in South Carolina. With this acquisition, Volvo Group will complement the current, and accelerate its future, battery-electric road map, according to the company.

    Proterra had been working with Daimler and Van Hool. According to Alastair Hayfield, senior research director, Interact Analysis, Proterra also has an agreement with Komatsu. It is unclear if or how those relationships will continue.

    “This acquisition makes perfect sense as it wil enable Volvo to ‘go faster’ with its electrification strategy,” said Hayfield in a statement, “and give it a battery manufacturing facility to support its U.S. operations.”

    About the Author

    Rod Sutton

    I have served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001. 

    Our mission is to help managers of heavy equipment and trucks to improve their performance in acquiring and managing their fleets. One way we do that is with our Executive Institute, where experts share information and ideas that will enable equipment managers to accurately manage equipment costs so that they can deliver the optimum financial benefits to their organizations.

    We also have a laser focus on product development, performance, and technology; as well as equipment acquisition, disposal, and maintenance. Our exclusive Field Tests take earthmoving equipment and truck into the field for professional evaluations.

    Check out our free newsletters to see the latest content.

    You can find me on LinkedIn.

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