Volta Trucks news in brief

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  • Volta Trucks completes first customer and media evaluation of the full-electric Volta Zero prototype in European launch markets
  • Volta Trucks and Siemens intend to jointly deliver eMobility charging infrastructure to Volta Trucks’ customers
  • Volta Trucks confirms successful extension of its earlier Series C funding round, with an additional €60 million of capital into the company

Volta Trucks, the leading and disruptive full-electric commercial vehicle manufacturer and services provider, has completed the first customer driving evaluations of the Volta Zero Design Verification prototype in the company’s European launch markets. These events gave customers their first experience of the zero-tailpipe emission medium-duty truck designed for urban logistics, providing a real-world understanding of the vehicle’s performance, world-first driver-centric cab and innovative safety features.

The evaluations, undertaken on proving grounds in Paris, Madrid, Milan, Selm in Germany and Millbrook, England, are the company’s latest milestones on its accelerated journey to bring zero-tailpipe emission trucks to market at industry-leading pace. With over 1,500 test drives from organisations and international media, the feedback from the evaluation activities will be integrated into the future product roadmap, with next-generation Production Verification prototype vehicles already now driving off the production line at the company’s contract manufacturing facility in Steyr, Austria.  

Volta Trucks partners with Siemens to accelerate commercial fleet electrification

Volta Trucks and Siemens Smart Infrastructure, the leader in electrification, have signed a letter of intent, outlining a cooperation to deliver comprehensive charging infrastructure and software to Volta Trucks customers, to simplify, de-risk, and accelerate their transition to commercial fleet electrification.

The strategic partnership looks to bring together Volta Trucks’ unique solution to commercial vehicle fleet electrification and operational expertise through its Truck as a Service offer, and Siemens’ global experience in electric vehicle support solutions. This includes software control systems, facility electrification, charging infrastructure, energy management, building equipment and project finance. The partnership will support Volta Trucks’ customers by providing infrastructure for full electrification aligned with their operational needs.

Volta Trucks confirms successful extension of its Series C funding round, with an additional €60 million of capital into the company

Volta Trucks has announced an extension of its earlier Series C funding round from February 2022, with an additional €60 million capital raise, on top of the previous €230 million. The round was supported by all current investors. This brings the total investment into the company to over €360 million to date.

The Series C Extension validates the company’s continued progress. Its accelerated engineering, testing and certification work continues apace ahead of the start of production of customer vehicles in Q1-2023. On the commercial side, the company currently has thousands of pre-orders for the full-electric Volta Zero.

Confirming the new investment, Douglas Snyder, Chairman of the Board of Directors of Volta Trucks, said; “At Volta Trucks, we have a very loyal, engaged and future-facing cap table of investors supporting our journey. Nobody has done what Volta Trucks is doing before, and this needs significant investor confidence and trust in the company vision, strategy, business case and ongoing deliverables. The extension to our Series C funding round gives us further positive external validation of our journey, and our pre-order book gives us confidence from our customers that we are developing a product that the market needs.”

Editor’s notes

Volta Trucks will not be communicating the separate investment amounts from individual investors.

About the Volta Zero

The Volta Zero is the world’s first purpose-built full-electric 16-tonne vehicle designed for urban logistics, reducing the environmental impact of freight deliveries in city centres. Designed from the ground up with an operating pure-electric range of 150 – 200 kms (95 – 125 miles), the Volta Zero will eliminate an estimated 1.9M tonnes of CO2 by 2026.

Safety is also at the heart of Volta Trucks, with its ambition of producing the safest trucks for our cities. The Volta Zero was designed for electric from the outset, which facilitates a step-change in vehicle, driver and pedestrian safety. Thanks to the removal of the internal combustion engine, the operator of a Volta Zero sits in a central driving position, with a much lower seat height than a conventional truck. This combination, plus a glass house-style cab design, gives the driver a wide 220-degrees of visibility, minimising dangerous blind spots.

Volta Trucks will also introduce its innovative Truck as a Service proposition that will revolutionise the financing and servicing of commercial vehicle fleets. Truck as a Service offers fleet managers a frictionless and hassle-free way to electrify their fleet and helps them with every step by offering a single, affordable, monthly fee that provides access to a full-electric Volta Zero, and all its charging infrastructure, servicing, maintenance, insurance, and training requirements, maximising uptime and operational efficiency.

About Volta Trucks

Volta Trucks was formed in 2019 in Sweden by co-founders Carl-Magnus Norden and Kjell Walöen. It has its head office in Stockholm, Sweden, but most of its business and engineering operations are undertaken in the UK, with sales teams across France, Spain, Italy, Germany, Netherlands, and the UK. Volta Trucks is partnering with a number of global leaders in the supply chain for the development and production of the Volta Zero, at pace and scale.

The company’s contract manufacturing facility is in Steyr, Austria, where it started building ‘Production Verification’ prototypes in Summer 2022, ahead of the start of production of customer specification vehicles in early 2023. The company is also establishing a network of ‘Volta Trucks Hub’ service and maintenance facilities in its launch markets, with the first two already announced in Bonneuil-sur-Marne, to the south of Paris, and in Tottenham, London.

Volta Trucks’ original seed funding in May 2019 was €4.5 million. It then raised €18 million in a Series A round in January 2021 and the Series B round delivered €42 million in September 2021. The company announced a successful Series C round of €240 million in February 2022 with an additional €60 million in a Series C extension round in November 2022. In total, Volta Trucks has raised over €360 million to date.