Hedge fund Luxor may get Volta Trucks out of bankruptcy. There’s hope for hundreds of workers

According to Sky News, former Volta Trucks investor Luxor Capital Group "is in advanced talks with the company's administrators to buy it in a deal which could salvage hundreds of jobs", not only in Great Britain.

By segreteria

According to Sky News, former Volta Trucks investor Luxor Capital Group “is in advanced talks with the company’s administrators to buy it in a deal which could salvage hundreds of jobs”, not only in Great Britain. Sky News states there’s a concrete possibility to reach an agreement in the next few days. Volta Trucks used to employ about 600 people in Britain and 250 people all over Europe.

Volta Trucks soon out of bankruptcy?

The electric truck designer and manufacturer was forced to file for bankruptcy in mid-October, after original battery pack supplier Proterra got into trouble during the summer. Volta Trucks was very close to start series production of its 16-ton Volta Zero at Steyr, in Austria, after the end of the testing phase. Indeed, according to the company’s communications, there were lots of pre-orders for the electric vehicle.

So far, no one from the Volta Trucks management has released statements or comments about the ongoing negotiations with Luxor Capital Group.

Highlights

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