Volta Trucks files for bankruptcy

In October, Volta Trucks, an electric truck manufacturer, announced its decision to file for bankruptcy in Sweden due to challenges with suppliers, affecting fundraising efforts. Issues at suppliers, including the bankruptcy of Proterra and uncertainty with its battery supplier, resulted in production limitations, hampering capital acquisition. The company plans to file for bankruptcy in the UK as well and acknowledged the substantial impact on its dedicated workforce. Despite having secured approximately 300 million euros from investors and holding orders for over 5,000 vehicles, the company faced insurmountable hurdles, leading to this unfortunate decision.