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Volta Trucks is preparing to return to Europe in 2024 – PROFFS Magazine

Volta Trucks is preparing to return to Europe in 2024 – PROFFS Magazine


The new owners of Volta Trucks are preparing the electric truck manufacturer to return to select markets in Europe.
With a clear plan and a new, more efficient business model, the company should achieve profitability.
First of all, the Volta Zero electric truck will be delivered to customers already waiting in Germany, then France, then Great Britain and Scandinavia at the end of 2024.

Volta Trucks was revived on December 1, 2023, 48 days after the company declared bankruptcy on October 17 of the same year. Since then, the new owner, American Luxor Capital Group, has worked alongside a small, dedicated group of experienced people to rebuild the company while developing a streamlined, more capital efficient business plan.

The new company, Volta Commercial Vehicles Ltd is registered in the United Kingdom. Activities surrounding the relaunch are well under way and are managed by around 150 staff in the UK who are currently working purposefully to once again deliver Volta Zero to customers in Europe.

Development of vehicles for Production of the Volta Zero, 16t and 18t series is well under way with the aim of meeting the GSR-2 (General Safety Requirements) standard in July.

Customer testing in operation Operations have just begun in the UK, and according to Volta Trucks, demand is high. The test fleet of 15 vehicles will be available during April for operational tests for customers in Germany, France, Scandinavia as well as Austria. Joint planning with Volta's contract manufacturer, Steyr Automotive in Austria, aims to resume Volta Zero series production later in 2024.

– During the past few months We carefully analyzed Volta Trucks' original business plan and worked extensively to streamline and streamline the business model with a strong focus on speed, capital efficiency and profitability. The new Volta will therefore offer a “chassis and cab” product which is then complemented by a tailored maintenance and service offer as well as partnerships with several approved chassis manufacturers. “We believe this solution will best meet our customers’ immediate needs and support them in their transition to electric,” says Essa Al-Saleh, CEO of Volta Commercial Vehicles.

Luxor Capital Group supports A financing plan that includes a round of convertible financing next month and a larger Series A round for investors to join in the second quarter of 2024. This will take Volta Commercial Vehicles through the period of implementing series production as well as the conversion of customer orders and deliveries.

-We are working to make sure Previous orders from pre-existing customers, while re-establishing the entire supply chain, completing the investment round and ensuring that our vehicles are ready for series production and delivery. Currently, we are in the middle of discussions with each supplier and partner to ensure that their commitments are in line with our production plan. We learned a lot during our difficult journey last year and we take with us the most important lessons into the new work. This has made us stronger and more prepared than ever before,” says Issa Al Saleh.

Volta comes in collaboration with Customers and partners in France will have Volta Zero on the streets during the Olympic Games in Paris this summer.
– The city of Paris is planning to host the greenest Olympic Games ever, so it is an excellent opportunity for our clients, both in logistics and those with their own consumer brands, to showcase the future of transportation in major cities, says Issa Al. righteous.

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