Proterra

Many people recall the fiasco with solar panel maker Solyndra, when after receiving $528 million in loan guarantees from the government and filed for bankruptcy. This means the government lost all that money. During the 18 months that the company was operating many employees made campaign contributions to democratic candidates. This same scenario has happened this year with a company called Proterra. The politically connected battery company told shareholders that it plans to ride the wave of government spending in the electric vehicle sector. The infrastructure bill set aside billions for electric school buses and Proterra got billions. Yesterday less than two years later Proterra filed for bankruptcy. There are numerous companies who claim to be in the green energy business who line up for government subsidies and then go broke. What happens to all the money is never really explained but much of it is returned in the form of campaign contributions. Here is a quote from the Infrastructure Bill. The legislation will provide $7.5 billion for zero- and low-emission buses and ferries, aiming to deliver thousands of electric school buses to districts across the country, according to the White House.