Volta Trucks announces another insolvency

Following its first insolvency in 2023, the electric truck start-up Volta Trucks has now filed for insolvency again. This is for the parent company in the UK and the subsidiary in Austria, which was responsible for building the Volta Zero model.

Founded in Sweden in 2019, the young company set out on a mission to build the electric truck of the future, and opted for a complete in-house development instead of converting a diesel model. Now, Volta Trucks is insolvent for the second time: both the company Volta Commercial Vehicles Limited in the UK and the subsidiary Volta Commercial Vehicles GmbH in Austria are insolvent.

The exact cause of the insolvency is not yet known, but there is a clear lack of sales, as production of the first Volta Zero model has been delayed for years. What is certain in any case is that the British insolvency administrator is now looking for investors for Volta. If this is not successful, liquidation will have to be initiated.

Volta Trucks started production of its first electric trucks in April 2023 at Steyr Automotive, the former MAN plant in Steyr, Upper Austria (not to be confused with Magna Steyr). However, Volta Trucks went bankrupt in October 2023, and production had to be halted. In spring 2024, the investor Luxor Capital then bought up large parts of Volta Trucks and announced the restart.

At the time, the first deliveries of electric trucks were announced to be planned by the end of 2024, but this never happened. Instead, the newspaper OÖNachrichten reports that the company has been working on resuming production at Steyr Automotive ever since. Volta last announced this in March 2025.

The first model developed by the company is the Volta Zero, an electric truck for inner-city distribution transport, which, in addition to the locally emission-free electric drive, has a special cab with a large windscreen and a centrally positioned driver to improve visibility – and thus safety in urban traffic. The transport company DB Schenker, for example, was impressed by the Volta Zero and ordered a whopping 1,500 units in 2021. DB Schenker had renewed the order following the takeover of Volta by Luxor. In May 2024, DB Schenker reported on a ten-day test run with a production-ready vehicle.

sustainabletruckvan.com, nachrichten.at, akv.at (last two in German)

2 Comments

about „Volta Trucks announces another insolvency“

JohnH

07.05.2025 um 12:36

Buying large commercial trucks is a very cost conscious decision. Buy a truck which is fuel hungry and you face going out of business. Buy a new brand with a chequered history and little infrastructure...no way. Unless tied to an existing manufacturer with its distribution in place, only the brave will take the plunge in this sector.

Ex Volta Employee

13.05.2025 um 20:15

Volta Commercial Vehicles went into insolvency for the second time due to the investor they lined up not going through with the deal and the company running out of cash to the point employees were not paid for 8 weeks.Insolvency was planned regardless of an investment to wipe all liabilities with supplier debts and possibly the ongoing employment tribunal from Volta Trucks.It’s a shame to publish this but unfortunately a breach in contract has left a lot of people disappointed. Once again we had trucks at the body builders ready to be shipped to customers but lack of funding prevented paying the supplier to release those vehicles.