Volta Trucks has declared bankruptcy in Sweden after four years of activity. He The board of electric vehicle manufacturers announced the news in a statement. who thanked his workers and pointed out their existing achievements and unrealized potential. “We created the world’s first purpose-built 16-tonne all-electric truck, including a unique cab and chassis design, which would have contributed to decarbonizing the environment and improving the health, safety and air quality of urban centers “. The company had tested its delivery vehicle, Volta Zero, in five European countries and originally planned to expand to Los Angeles in mid-2023.
Volta Trucks blames its situation, in part, on another bankruptcy: its battery supplier, proterra, filed for bankruptcy in August following cost-cutting efforts. According to Volta Trucks, this turn of events reduced the number of vehicles it planned to produce and made raising the capital needed to continue operations more challenging.
The electric vehicle industry has faced a slew of layoffs and closures, especially from startups navigating an ever-evolving field (and plagued by supply chain issues). Lordstown Motors filed for bankruptcy in mid-2023 after five years in business, and Arrival has gone through multiple rounds of layoffs with all signs pointing to bankruptcy, to name just two examples. As was the case with Lordstown Motors, Volta Trucks could seek a buyer for its existing technology.
