Stay updated with breaking news from Volta Zero. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Luxor Capital Group, which invested heavily in Volta Trucks, is in advanced talks with the company's administrators to buy it in a deal which could salvage hundreds of British jobs, Sky News learns.
Professionals from Alvarez & Marsal have been appointed to the administration of European automotive firm Volta Trucks.
Volta revealed its first model, the 16-tonne Zero, back in 2020 and said that production would begin in the United Kingdom two years later with an initial target of 500 units annually and a ramp-up to 5,000 units by 2025.
Volta Trucks has filed for bankruptcy in Sweden and will file for administration in the UK following the collapse of its battery supplier.
Even though Volta Trucks has recently begun production, it is now facing bankruptcy. Here's what happened.