Big investment in fully electric trucks

Existing investor, Luxor Capital Group led the funding round, with production expected to start in late 2022.

Following Europe’s largest order of electric trucks from DB Schenker in late 2021, and other recent wins, pre-orders for the Volta Zero now exceed 5,000 vehicles, with an orderbook value of more than €1.2 billion.

Volta Trucks chief executive officer Essa Al-Saleh, says: “The successful and oversubscribed conclusion of our Series C funding round gives us a positive external validation of our journey. As an innovator and disruptor in commercial vehicles, we are working at industry-leading pace and have significant ambitions. Today’s closing of the Series C funding round, bringing €230 million into the company, gives us the financial runway to be able to deliver on all our goals as we transition from a start-up to a manufacturer of full-electric trucks. The confirmation of our orderbook of over 5,000 vehicles with an orderbook value exceeding €1.2 billion, gives us and our investors, confidence that our pioneering product and service offering is both wanted and needed by our customers.”