Volta Truck's Latest Funding Round Brought the Company an Additional $257 Million

Volta Zero Fully Electric Truck 6 photos
Photo: Volta Trucks
Volta Zero full-electric truckVolta Zero full-electric truckVolta Zero full-electric truckVolta Zero full-electric truckVolta Zero full-electric truck
Commercial EV manufacturer Volta Trucks raised another €230 ($257) million in the latest funding round and plans to use the money for engineering and business operations until after the series production of its Volta Zero starts.
Volta Trucks boasts of its Volta Zero being the world’s first purpose-built, full-electric vehicle designed for urban logistics. We’re talking about a 16-ton truck that offers a range of 150 to 200 km (95 to 125 miles) on a charge, promising to cut around 1.2 million tons of CO2 by 2025.

The Volta Zero truck has enjoyed great feedback so far, with the manufacturer claiming it’s received more than 5,000 pre-orders for it so far, with an order book value of over €1.2 billion ($1.3).

It is this huge amount that has motivated investors to pump more money into the company, giving Volta Trucks the confidence that they’re on the right track. According to CEO Essa Al-Saleh, the latest funding round offers them the financial runway to deliver their goals and transition from a startup to a manufacturer of full-electric trucks.

Volta Trucks aims to start the series production of the Zero at the end of 2022. The plans also include the completion of a fleet of Design Verification prototypes for testing and engineering development, as well as a Product Verification fleet of vehicles. The latter will be ready for evaluation by London and Paris customers sometime in mid-2022.

The money will also be used for the company’s manufacturing facility in Steyr, Austria, where the production of customer vehicles is also estimated to begin by the end of 2022.

With a payload of 18,960 lb (8,600 kg), sustainable construction with biodegradable exterior panels, and using Lithium Iron Phosphates batteries that eliminate the use of precious metals, the Volta Zero is described as a pioneering product.

The truck has a glass house-style cab design, giving the driver wide, enhanced 220-degree visibility. It also comes with navigation services from HERE Technologies, including a Range Assistant feature with range prediction (which allows for better route planning) and integration with the what3words geolocation service.
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About the author: Cristina Mircea
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Cristina’s always found writing more comfortable to do than speaking, which is why she chose print over broadcast media in college. When she’s not typing, she also loves riding non-motorized two-wheelers, going on hikes with her dog, and rocking her electric guitars.
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