Volta Trucks to Make European Comeback in 2024 Under New Ownership
Volta Trucks is set to make a triumphant return to the European market in 2024, following its emergence from administration and acquisition by Luxor Capital.
Since its reformation as Volta Commercial Vehicles Ltd in December 2023, the company has been working to reintroduce its electric trucks to European roads. Led by a dedicated team of approximately 150 employees, Volta is streamlining operations and adopting a more capital-efficient business model to drive its resurgence.
A cornerstone of Volta’s revival strategy is the development of its 16-ton and 18-ton versions of the Volta Zero, engineered to meet stringent safety standards. The company has initiated customer trials in the UK to ensure compliance and readiness, with plans for expansion into Germany, France, the Nordics, and Austria in the second quarter of the year.
Volta’s CEO, Essa Al-Saleh, said: “We’re looking to confirm orders with existing customers, reassemble the supply chain, complete a crucial fundraising round, and ensure series vehicles are ready for delivery. Right now, we are in the midst of discussions with all our suppliers and partners to enable these objectives. We have learned a lot from our challenging journey and are emerging stronger and more focused than ever.”
Al-Saleh underscored Volta’s focus adding “During the last couple of months, we have analysed our original business plan and worked hard to simplify our business model with a strong focus on speed to market, capital efficiency and profitability. The new Volta Trucks will provide an innovative chassis-cab” product, supported by a tailored Maintenance and Service offering and partnerships with certified Body Builders. We believe this will best support our customers’ immediate needs and facilitate the electrification transition.”
Looking ahead, Volta Trucks aims to showcase its electric trucks during the Paris Olympics, aligning with the event’s aspiration for sustainability. This presents a platform to highlight the future of urban transportation with the Volta Zero, catering to logistics and consumer-brand customers.
Volta Trucks’ resurgence under new ownership marks a significant milestone, reflecting the resilience and innovation within the industry. As the company charges ahead with its revitalised business strategy, supported by strategic partnerships and investor backing, it heralds a new era for electric urban transportation in Europe.
