Current Price $17.10 Price Target $25
Just this week Proterra and Miami-Dade agreed to install one of the largest fleet charging systems in the U.S. with 75 Proterra chargers across three bus routes. Miami-Dade's purchase of 42 Proterra electric transit buses brings its fleet to 75 Proterra buses With 19 megawatt-hours of battery storage capacity, the project demonstrates Proterra's ability to offer full fleet electrification technology solutions to commercial vehicle customers. This deal also shows Proterra’s competitive edge in EV bus market that should attract a large amount of government investment over the upcoming months and years. A big catalyst for PTRA is the infrastructure bill which saw some positive developments last week as the Biden administration and moderate senators are close to a deal. This deal would allocate $7.5b to EV public transport, given PTRA is the clear leader in this sector PTRA would benefit greatly from this deal.