BMW Announces Strategic Investment in Zero-Emission Bus Manufacturer

Recently, BMW i Ventures released the news that the corporate venture capital team had made a strategic investment in Proterra. With more than 400 vehicles sold to 38 differing transit agencies in 20 states, Proterra is a leader in designing and manufacturing zero-emission heavy-duty vehicles and boasts a 60 percent market share of the North American electric mass transit market. Proterra aims to deliver clean, quiet transportation solutions while reducing transit providers' operating costs and eventually eliminating fossil fuel dependency.

i Ventures is based in Mountain View and was founded in 2011 by BMW in order to offer equity financing to the start-ups and high-growth companies that are shaping global mobility's future. Through the strong partnerships the firm makes, i Ventures is able to invest in future mobility that is smarter, more efficient and more flexible than ever. To date, BMW i Ventures has made strategic investments in companies that operate in the e-mobility, intermodality, navigation, parking and car sharing fields.

Zach Barasz, Partner at BMW i Ventures, stated in a press release, "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 discover more about the latest BMW mobility innovations, contact a member of the BMW of Tulsa team.


Categories: News