CEO of EV bus maker that declared bankruptcy continues to serve on Biden's trade policy advisory board. Of course, the previous president also declared bankruptcy. Seems that all is fine and dandy despite what seems to be ineptness.
Gareth Joyce, the CEO and a board member of California-based electric bus maker Proterra, continues to serve on a top White House council advising President Biden on trade policy even after his company filed for bankruptcy.
Joyce has served on the White House Export Council, the principal national advisory committee on international trade which advises Biden on "government policies and programs that affect U.S. trade performance," since February. According to the Commerce Department's International Trade Administration, Joyce remains a member of the council.
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."
"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"
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