Mexican Media Brands
Proterra to Lease Electric Bus Batteries
California-based electric busmaker Proterra Inc. is partnering with Japanese investment firm Mitsui & Co. to create a $200 million fund to support a battery leasing program.
#hybrid
Share
California-based electric busmaker Proterra Inc. is partnering with Japanese investment firm Mitsui & Co. to create a $200 million fund to support a battery leasing program.
Under the scheme, customers lease batteries separately from the purchase of the bus. This lowers upfront costs to make the price of an electric bus comparable to that of a diesel- or CNG-powered model, according to Proterra.
To help decrease risk, the busmaker guarantees the performance of the batteries through the expected 12-year life of a bus. The battery pack is replaced at no additional charge after six years.
Proterra and Mitsui also have created a program to use leased batteries in secondary applications after the end of their useful life in a vehicle. Separately, Proterra also has started a leasing program for electric buses to further reduce monthly payments.
Battery leasing programs were authorized in the U.S. under the 2015 Fixing America’s Surface Transportation Act.
RELATED CONTENT
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
Honda to Make Hybrids in Thailand
Honda Motor Co. is preparing to launch production in Thailand of hybrid cars and the batteries that help power them.
