Volta Trucks to restart assembly of the battery-electric Zero
12 March 2024
Volta Zero electric truck (Photo: Volta Trucks)
Volta Trucks is to restart assembly at the Steyr Automotive plant in Austria from May this year.
This will be the first time the electric trucks will have been manufactured since the formerly insolvent OEM was taken over by Luxor Capital at the end of 2023.
A new division of Steyr called Steyr Automotive E-Truck will be founded to manage production.
According to media reports, total volumes this year will reach 500 trucks. The target for volumes in 2025 will increase to 2,000 units.
Volta Trucks was declared insolvent in October 2023 after its battery supplier, Proterra, also declared insolvency. With Proterra out of business and production halted, Volta was unable to raise necessary funding.
Prior to its insolvency, Volta reported that it had about 5,000 orders for its electric truck, the Zero.
Luxor Capital was already a major investor in the Swedish truck firm before the buyout. Volta also has a series of operational sites in the UK.
It is still possible that batteries for Volta production will come from Proterra, following the purchase of that company by Volvo Trucks.
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