Electric Vehicle Tech Maker Proterra Files for Bankruptcy (2)

Proterra Inc., which makes heavy-duty electric vehicle components like chargers and batteries, filed for bankruptcy on Monday.

The Burlingame, California-based company listed assets and liabilities of at least $500 million each in a Chapter 11 petition in Delaware. The filing gives Proterra protection from creditors while it finds a way to repay them. Shares of the company fell as much as 65% in premarket trading on Tuesday.

Proterra plans to either recapitalize its businesses or sell them off, according to a statement. The firm will continue operating as normal by using existing money to fund its business operations. ...