Image: Volta

Volta Trucks announced today it had “taken the difficult decision to take steps to file for bankruptcy proceedings”.  

The electric HGV builder said the move was a consequence of battery supplier Proterra filing for Chapter 11 bankruptcy protection in early August.  

Volta this had a “significant impact” on its manufacturing plans and had to reduce the number of vehicles it was forecast to produce.

It added: “The uncertainty with our battery supplier also negatively affected our ability to raise sufficient capital in an already challenging capital-raising environment for electric vehicle players.” 

Volta created the world’s first purpose-built 16-tonne all-electric truck, claiming a unique cab and chassis design and that it would significantly contribute to decarbonisation.  

It piloted in five countries across Europe and received “fantastic feedback”, which according to Volta “led to a strong pipeline of highly reputed customers wanting to introduce Volta Zero trucks into their fleets”.  

DB Schenker had ordered 1,500, the largest order for medium-duty electrified trucks in Europe, as part of its commitment to the Deutsche Bahn Climate Neutral Target 2040.  

Cyrille Bonjean, EVP land transport in Europe, said Volta Zeros would be used across DB Schenker’s European terminals, transporting goods from distribution hubs into city centres and urban environments. 

But today Volta said:”The board has not taken this course easily or lightly, and is fully aware of the significant impact this will have on the organisation’s dedicated workforce, as well as customers and partners. We would like to sincerely thank the Volta Trucks team and are incredibly proud of their pioneering work to deliver such an innovative zero-emission commercial vehicle.” 

Volta CEO Essa Al-Saleh is well-known in freight circles, having been CEO of Agility for 13 years. He joined Volta as chair of the board in 2020 and became CEO after just seven months. 

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