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Volta Trucks
Company type
Private
Industry
Electric Vehicles, Automotive, Technology
Founded
2019; 5 years ago (2019)
Founder
Carl-Magnus Norden Kjell Waloen
Defunct
17 October 2023
Headquarters
Stockholm
,
Sweden
Key people
Essa Al-Saleh, CEO
Products
Electric trucks
Number of employees
885
Website
www.voltatrucks.com
Founded in 2019, Volta Trucks manufactures and provides services for electric trucks. The company's registered offices are Stockholm, Sweden, and London, UK, with operations in both countries as well as France, Spain, The Netherlands and Austria. Volta Trucks’ Head Office is in Stockholm, Sweden, with its engineering-led from the UK, and manufacturing facility in Steyr, Austria.
In September 2020, Volta Trucks launched the Volta Zero, an all-electric, 16-tonne vehicle for city-centre freight deliveries. The first demonstrator was designed by Astheimer[1] in Warwick UK, and manufactured by Prodrive Advanced Engineering in Banbury, UK.
In total, Volta Trucks has raised over €360 million funding to date. New York-based investment firm, Luxor Capital[2] led the funding round and represents the company's largest single investor, joining previous lead investor, Stockholm-based Byggmästare Anders J Ahlström. In April 2022, Volta Trucks’ had an order bank of around 6,000 vehicles with a value of circa $1.3billion. Volta trucks filed for bankruptcy in Sweden 17 of October 2023.,[3] and then was bought up by hedge fund Luxor Capital Group, one of its largest creditors.[4]
^"Astheimer design - making it real". Astheimer. Retrieved 2023-03-07.
^"Luxor Capital Group, LP – Luxor Capital". Retrieved 2023-03-07.
^Carey, Nick (2023-10-17). "Electric truck maker Volta Trucks files for bankruptcy in Sweden". Reuters. Retrieved 2023-10-17.
^Sillars, James (1 Dec 2023). "Volta Trucks is saved but bulk of 600 UK workers are currently out of a job". Sky News. Sky UK. Retrieved 21 February 2024.
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