Luxor Capital Group, one of the main investor in the original Volta Trucks project (so, among the main creditors after the company’s bankruptcy) has bought the Volta Trucks business. We talked about the negotiations in this post, a few days ago. The electric truck manufacturer employed about 850 people all over Europe, 600 of which used to work in the UK.

The future of Volta Trucks after the intervention of Luxor Capital hedge fund

According to Sky News, which has been following closely the whole story, the future of these workers is still uncertain. There was no official news, but it seems that only a few of them will be employed by the new owners of Volta Commercial Vehicles Limited, the name of the new company.

“We’re pleased to have safeguarded the future of Volta Trucks by facilitating its acquisition by Volta Commercial Vehicles Ltd.”, said A&M managing director Andrea Jakes. Alvarez & Marsal (A&M) were appointed administrators to Volta Trucks’ UK business after the failure, in October. Of course, it’s not clear yet how the future of the project, which core business was the manufacturing and sales of the Volta Zero electric truck mainly for urban distribution.

Highlights

Related articles

ReVolt Motors to unveild new hybrid Peterbilt truck in the U.S.

In terms of environmental benefits, ReVolt states that the hybrid system can slash carbon emissions by 40%, even with diesel fuel usage, positioning the vehicle for EPA certification as a near-zero emissions solution. “American truckers want their trucks to reflect their identity, and our retrofit ...
News