Volta Trucks secures 230 million euros for Volta Zero production

Volta Trucks, which describes itself as a leading manufacturer of all-electric commercial vehicles and provider of services, has secured Series C financing of 230 million euros.

This will be used, among other things, to advance the production of the all-electric Volta Zero. The financing round was led by Luxor Capital, while original seed investor Byggmästare Anders J Ahlström from Stockholm increased its stake in the company and brought other direct and indirect co-investors to the cap table.

Furthermore, B-FLEXION, formerly Waypoint Capital, had participated in the development of Volta Trucks. This is a private entrepreneurial investment company that makes long-term, thematic, direct principal investments in companies in changing industries. It also builds investment partnerships in a variety of areas, including growth and venture capital, buy-outs, real estate, infrastructure, public securities, debt, hedge funds and other alternatives.

Volta Trucks reports that this financing lays the groundwork to fund all of the company's technical and business activities until the start of volume production of the Volta Zero all-electric 16-tonne vehicle in late 2022. This, the start-up said, would include the completion of a fleet of design verification prototypes for engineering development and testing, as well as a fleet of product verification vehicles to be tested by customers in London and Paris in mid-2022. Furthermore, the 230 million would be sufficient to secure the development of the recently confirmed all-electric 7.5 and 12-tonne derivatives of the Volta Zero. As well as to prepare the company's contract manufacturing facility in Steyr, Austria, to begin production of customer vehicles by the end of the year.