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Volta Trucks raises $257 million in Series C funding for its Zero model line

Commercial vehicle manufacturer Volta Trucks has raised €230 million ($257 million) in Series C funding. The cash will be used to complete a fleet of design verification prototypes and a fleet of product verification vehicles for customer evaluation in London and Paris in mid-2022, as well as the continued development of the Volta Zero model line and the preparation of a factory to begin production in Steyr, Austria by the end of 2022.

The Volta Zero model line began with a prototype launched in September of 2020. The company says the truck is “the world’s first purpose-built full-electric 16-ton vehicle designed for urban logistics.” It has a range of 95-125 miles. The model line also includes 7.5- and 12-ton versions, and an 18-ton version is in the works.

Volta hopes to produce 5,000 vehicles in 2023, 14,000 in 2024, and 27,000 in 2025. The company says it has received orders totaling 5,000 vehicles and €1.2 billion ($1.3 billion US), including an order for 1,470 vehicles from European transport company DB Schenker, and one for 1,000 from refrigerated vehicle provider Petit Forestier.

Source: Volta Trucks

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