Volta Trucks has declared bankruptcy for the second time, electrive.com reports. Although no detailed explanation for the insolvency has been provided, it appears to stem from a lack of sales due to delays in the production of the first Volta Zero model. Production of the vehicle began in Steyr, Austria, in April 2023, but the company declared bankruptcy in October of the same year, halting manufacturing.
In spring 2024, the majority stake in Volta was acquired by the Luxor Capital fund, which announced a fresh start and the resumption of production. Deliveries were scheduled to begin by the end of 2024, but this never materialised. According to local press reports, the company was still attempting to restart production in Steyr, with the last update on this effort appearing in March this year.
History appears to be repeating itself. The UK bankruptcy administrator is currently seeking investors for Volta. If this fails, the company will have to be liquidated.
Volta Zero
The flagship model of the Swedish start-up was the 16-tonne Volta Zero truck. It featured outstanding visibility from the cab, offering the driver a 220-degree field of view around the vehicle. This design aimed to reduce blind spots and improve safety. The truck was also equipped with a camera system in place of traditional rear-view mirrors, along with an additional 360-degree top-down camera system.
