June 16, 2011

MAGIC BUS:

Electric Buses Get a Jump Start: A GM-funded bus could reduce transit agencies' fuel bills by 80 percent. (Kevin Bullis, 6/16/11, Technology Review)

The electric-bus startup Proterra has raised $30 million in new funding, including $6 million from GM Ventures. The company uses relatively small battery packs to keep down costs, intending them to be recharged frequently at rapid-charging stations that can replenish them in less than 10 minutes.

Fuel-saving technology is important to transit agencies, especially now that diesel prices are high and volatile—a gallon of diesel costs a dollar more that it did a year ago. Proterra CEO Jeff Granato says each bus will save the transit agency $600,000 in fuel costs over the 12-year life of the vehicle, plus another $70,000 to $95,000 in maintenance costs. Electricity to charge the buses costs about 18 cents per mile, compared with about $1 a mile for diesel fuel.

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Posted by at June 16, 2011 7:42 AM
  

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