CEO of bankrupt electric vehicle company still on top White House advisory council
Fox News
The CEO of electric bus maker Proterra continues to advise President Biden on key international trade issues even after his company filed bankruptcy due to poor performance.
However, in August, Joyce's company Proterra filed a voluntary Chapter 11 reorganization under the U.S. Bankruptcy Code as a result of negative financial performance. He explained at the time that Proterra, despite its bankruptcy filing, had created a foundation setting the stage for "decarbonization across the commercial vehicle industry as a whole." Thomas Catenacci is a politics writer for Fox News Digital.
"While our best-in-class EV and battery technologies have set an industry standard, we have faced various market and macroeconomic headwinds, that have impacted our ability to efficiently scale all of our opportunities simultaneously," Joyce said on Aug. 7. "As commercial vehicles accelerate toward electrification, we look forward to sharpening our focus as a leading EV battery technology supplier for the benefit of our many stakeholders"