Volta Trucks announced that the Volta Zero full-electric trucks have reached 2,500 pre-orders, with an order value exceeding 600 million euro. The company then secured 37 million euro Series B funding round. The latter was led by Luxor Capital with existing investors extending their investments and strategic partners joining the Volta Trucks journey, showing clear belief in the company’s future success, and endorsement of its strategy and potential. A few days ago, Volta Trucks announced the agreement reached with Steyr Automotive to produce the trucks at Steyr production site, in Austria. The Volta Zero, currently undergoing road tests especially in the UK, will be produced by the end of 2022, according to the latest news coming from the Swedish company.
Pushed by pre-orders, the Volta Zero sets ambitious targets
Back to the funding round, Agility, a leading provider of supply chain services, innovation and investment, also became a first-time investor in Volta Trucks. Agility’s Volta investment is part of its broader strategy of investing in supply chain sustainability and resilience. Agility is focused on partnerships with companies that are developing cleaner commercial vehicles, mass-transit alternatives, freight marketplaces, and digital load-matching platforms – all intended to reduce CO2 emissions, congestion and fuel use. Volta Trucks targets to sell over 27,000 trucks in Europe and the US by 2025.
«The successful conclusion of our Series B funding round gives us positive external validation of our journey. Attracting several first-time investors, plus increased investment from existing partners totalling €37 million, is a strong endorsement of the path we are on and shows that our investors share and support our development and growth strategy. To be able to concurrently announce that we now have over 2,500 pre-orders for the full-electric Volta Zero, shows that customers also understand and share our mission to revolutionise and decarbonise city centre logistics, and bring full-electric commercial vehicles to market as soon as possible», said Essa Al-Saleh, Chief Executive Officer of Volta Trucks.