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 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
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
Increasing Use of Structural Adhesives in Automotive
Can you glue a car together? Frank Billotto of DuPont Transportation & Industrial discusses the major role structural adhesives can play in vehicle assembly.
