Sweden’s Volta Trucks, a full-electric commercial vehicle manufacturer and services provider, has announced the successful conclusion of its Series B funding round, with €37 million secured in new capital. The funding round was led by Luxor Capital, with existing investors extending their investments.
Pre-orders for the all-electric Volta Zero now exceed 2,500 vehicles, with an order value of more than €600m, having doubled in the past three months.
Designed with an operating pure-electric range of 150 – 200 kms (95 – 125 miles), the Volta Zero will eliminate an estimated 1.2M tonnes of CO2 by 2025.
Essa Al-Saleh, Chief Executive Officer of Volta Trucks, says: “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.”
Sharp McGivaren of Luxor Capital, and Volta Trucks Board Member, adds: “Volta’s commercial, engineering, manufacturing, and organizational progress has been nothing short of incredible. The Volta Zero and the benefits it delivers over conventional commercial vehicles are clearly resonating with customers, which is demonstrated by its current €600 million order book and the identified pipeline that is several times that size. We are thrilled to increase our commitment to Volta as it continues its path towards production.”
Volta Trucks has offices in Sweden, France and the UK and is partnering with a number of global leaders in the supply chain for the development and production of the Volta Zero.
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