Volta Trucks has officially opened bankruptcy proceedings in Sweden. The decision was made reluctantly by the Board of the electric truck manufacturer that seemed to have got into gear and was preparing to start mass production of its 16-ton vehicle we tested not more than a year ago.
It all started, according to official communications, from the crisis involving Proterra, a U.S. battery supplier, which in turn had to open the same bankruptcy proceedings in recent months. The stop in supplies had an obviously unsustainable impact on Volta Trucks and its investors, who were crucial in the early launch phase of the Swedish venture.
Bankruptcy proceedings for Volta Trucks
The news was spread internationally today, Oct. 17, and also confirmed on social networks by messages posted by the management of the company. Volta Trucks had begun small-scale production of its 16-ton electric truck in Steyr, Austria. Other smaller variants-specifically, 7.5- and 12-ton ones-were planned for the next few years. Thus, the adventure of a company that promised to revolutionize electric mobility for urban distribution comes to an end in a way that was hardly predictable, at least in terms of timing.