Lyne Grounds Maintenance takes delivery of new Isuzu 7.5-tonner
The truck has been specified with a Harsh HH6 hookloader
News - Commercial Motor
October 18, 2023
Following the bankruptcy of battery supplier Proterra, Volta Trucks has announced it’s now undertaking bankruptcy proceedings in Sweden.
Founded in 2019, the company specialised in building electric trucks, namely a 16-tonne all electric vehicle.
The powertrain allowed the vehicle design to deviate from traditional truck configurations, featuring a low cab and central driving position. This afforded the truck a five star DVS rating, and speaking on the result earlier this year, Ian Collins, chief product officer at Volta Trucks, said: “With the design of the Volta Zero we had the chance to start from a blank sheet of paper. We wanted to produce an electric vehicle, but we also wanted to address the safety issues that we see every day when trucks are operating in built-up environments.”
This futuristic truck was piloted in five countries across Europe but ultimately won’t reach production.
A statement from the company said: “The board has not taken this course easily or lightly and is fully aware of the significant impact this will have on the organisation’s dedicated workforce, as well as customers and partners. We would like to sincerely thank the Volta Trucks team and are incredibly proud of their pioneering work to deliver such an innovative zero emission commercial vehicle.”
The collapse of its battery supplier has impacted the firm’s manufacturing plans and limited the number of vehicles it was due to produce. In addition to a gap in the supply chain, the board reports this has impacted Volta’s funding. Uncertainty around battery supply has “negatively affected our ability to raise sufficient capital in an already challenging capital-raising environment for electric vehicle players.”
As a result, the Swedish-headquartered company is filing for bankruptcy. Its operations in the UK comprise the main trading entity of the group, so Volta Trucks Limited will soon file for administration in England. Alvarez & Marsal is expected to be appointed to handle the insolvency process. Other companies under the Volta Trucks umbrella will soon follow suit and file for insolvency in the relevant jurisdictions.
- For all the latest news and information dedicated to the decarbonisation of the commercial vehicle and road freight sector, check out our sister website FreightCarbonZero.com
