STOCKHOLM (Reuters) – Swedish truckmaker Volvo said on Friday it had won an auction for the battery business of troubled Proterra in the United States with a $210 million bid.
The auction was part of the electric vehicle part supplier’s ongoing U.S. Chapter 11 bankruptcy protection process.
Volvo said in a statement it aimed to finalise the acquisition, which is pending approval by the bankruptcy court, early next year.
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
