BMW Invests in Zero-Emission Bus Manufacturer
BMW i Ventures recently announced that they’d made a strategic investment in Proterra, a leader in the design and manufacturing of zero-emission heavy-duty vehicles. With more than 400 vehicles sold to 38 differing transit agencies in 20 states, Proterra has a 60 percent market share in the electric mass transit market and delivers clean, quiet transportation solutions while also reducing operating costs and lowering dependency on fossil fuels.
Mountain View-based i Ventures, a corporate venture capital team, was founded in 2011 by BMW in order to provide equity financing to high-potential start-ups and high-growth companies that are committed to shaping the future of global mobility. Thanks to these strong partnerships, i Ventures is able to invest in a future that will feature smarter, more flexible and highly efficient urban mobility. Thus far, BMW i Ventures has made strategic investments in companies operating in the fields of e-mobility, navigation, intermodality, parking and car sharing.
In a press release, Zach Barasz, Partner at BMW i Ventures, commented, “BMW i Ventures invests in companies that will transform mobility and transportation, and Proterra is pushing the transit industry forward with the most innovative heavy-duty electric bus. Due to Proterra’s efforts, electric mass transit is overtaking fossil-fuel buses as the new standard.”
To learn more about BMW’s latest innovations in the future of mobility, contact BMW of Mobile.