The company was founded in 2019
Swedish company Volta Trucks, founded in 2019, announced that it is filing for bankruptcy. The company is going out of business due to problems with its battery supplier and investors.
“It is with deep and sincere regret that the Board has made the difficult decision to take steps to file for bankruptcy in Sweden,” the company said in a statement. “The board has not taken this course lightly and is fully aware of the significant impact this will have on the organization’s dedicated staff, as well as customers and partners.”
Volta Trucks declares bankruptcy
Volta Trucks introduced the Zero in 2020, an all-electric 16-tonne commercial truck with a futuristic design, a central driver position, and a battery capacity of up to 225 kWh. The car could travel up to 200 km on a single charge.
Working with Steyr, the company hoped to produce the cars at a plant in Austria. Reuters reported that the company had more than 5,000 orders for the trucks, but problems with investors meant capital was drying up.
At the very beginning of its activities, the company raised about 300 million euros. However, the bankruptcy filing by Volta battery supplier Proterra has dealt a major blow to the company.
