The capital will fund all engineering and operations until after the start of production.
Volta Trucks, an ambitious startup in Stockholm, Sweden that claims it will become a full-electric commercial vehicle manufacturer and services provider, today announced the conclusion of its Series C funding round with a €230 million capital obtained. The funding was led by New York-based Luxor Capital, while initial seed investor, Byggmästare Anders J Ahlström of Stockholm, added to its holding in the company. Previous Series B investor, Agility, a provider of supply chain services also joined the funding appeal. (AutoInformed – Volta Trucks Fully-Electric Commercial Zero to Debut in Italy)
Volta is claiming a “Europe-first principles within its Road-to-Zero Emissions strategy, with Volta Trucks set to launch four full-electric commercial vehicles and increase its projected sales volumes to more than 27,000 by 2025.” Given the competition from existing truck makers, this is ambitious – and only a promise until production begins. Following an order of electric trucks from DB Schenker in late 2021, pre-orders for the Volta Zero now exceed 5,000 vehicles, with a value of more than €1.2 billion, Volta claims. (AutoInformed- Production Starts on Prototype Volta Electric Truck)
This capital will fund all the company’s engineering and business operations until after the start of series production of the 16-tonne full-electric Volta Zero at the end of 2022. This includes the completion of a fleet of Design Verification prototypes for engineering development and testing, as well as a fleet of Product Verification vehicles that will be evaluated by customers in London and Paris in mid-2022. It will also fund the continued development of the recently announced 7.5- and 12-tonne full-electric Volta Zero derivatives, as well as prepare the company’s contract manufacturing facility in Steyr, Austria, to start production of customer vehicles by the end of the year.
If all goes as claimed, during 2023, the company’s first year of series production, Volta Trucks has production plans for 5,000 vehicles, increasing to 14,000 trucks in 2024 and up to 27,000 vehicles in 2025. By this time, the company will be operational across Europe as well as the US, with a portfolio of four Volta Zero models in production, including 7.5-, 12-, 16- and 18-ton variants.
About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
‘Press Release’ EVs – Volta Trucks Raises €230M
The capital will fund all engineering and operations until after the start of production.
Volta Trucks, an ambitious startup in Stockholm, Sweden that claims it will become a full-electric commercial vehicle manufacturer and services provider, today announced the conclusion of its Series C funding round with a €230 million capital obtained. The funding was led by New York-based Luxor Capital, while initial seed investor, Byggmästare Anders J Ahlström of Stockholm, added to its holding in the company. Previous Series B investor, Agility, a provider of supply chain services also joined the funding appeal. (AutoInformed – Volta Trucks Fully-Electric Commercial Zero to Debut in Italy)
Volta is claiming a “Europe-first principles within its Road-to-Zero Emissions strategy, with Volta Trucks set to launch four full-electric commercial vehicles and increase its projected sales volumes to more than 27,000 by 2025.” Given the competition from existing truck makers, this is ambitious – and only a promise until production begins. Following an order of electric trucks from DB Schenker in late 2021, pre-orders for the Volta Zero now exceed 5,000 vehicles, with a value of more than €1.2 billion, Volta claims. (AutoInformed- Production Starts on Prototype Volta Electric Truck)
This capital will fund all the company’s engineering and business operations until after the start of series production of the 16-tonne full-electric Volta Zero at the end of 2022. This includes the completion of a fleet of Design Verification prototypes for engineering development and testing, as well as a fleet of Product Verification vehicles that will be evaluated by customers in London and Paris in mid-2022. It will also fund the continued development of the recently announced 7.5- and 12-tonne full-electric Volta Zero derivatives, as well as prepare the company’s contract manufacturing facility in Steyr, Austria, to start production of customer vehicles by the end of the year.
If all goes as claimed, during 2023, the company’s first year of series production, Volta Trucks has production plans for 5,000 vehicles, increasing to 14,000 trucks in 2024 and up to 27,000 vehicles in 2025. By this time, the company will be operational across Europe as well as the US, with a portfolio of four Volta Zero models in production, including 7.5-, 12-, 16- and 18-ton variants.
About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.