Volta Zero revolutionary e-truck begins production this year
Volta Trucks has successfully received 230 million euro Series C funding ($377m NZD). This will enable Volta Trucks to start production of its 16-tonne fully electric Volta Zero at the end of 2022.
This funding will be used towards engineering and business operations until after the start of the Volta Zero production. It also includes the completion of a fleet of design verification prototypes for engineering development and testing, as well as a fleet of product verification vehicles that will be used and evaluated by customers in London and Paris in mid-2022.
The company will also use the funds to continue the development of the recently confirmed 7.5 and 12-tonne fully-electric Volta Zero derivatives. On top of this, the manufacturing facility in Steyr, Austria, will receive preparations to start production of customer vehicles by the end of the year.
In 2023, which will be Volta Trucks’ first year of production, the company has production plans for 5000 vehicles, increasing to 14,000 trucks in 2024 and up to 27,000 in 2025. By then, the company plans to be operational across Europe and the United States, producing a plethora of Volta Zero models.
Volta Trucks has large customer contracts that support the volume expectations. Europe’s largest order comes from DB Schenker, for full-electric trucks. The land transport company has ordered 1470 vehicles. A further 1000 vehicles were ordered by Petit Forestier, who are a refrigerated vehicle and container rental company.
This brings Volta Truck’s order book to now more than 5000 vehicles, valued at over 1.2 billion euros, which equates to 1.9 billion NZD.
“The successful and oversubscribed conclusion of our Series C funding round gives us a positive external validation of our journey,” Volta Trucks chief executive Essa Al-Saleh says.
“Closing of the Series C funding round, bringing 230 million euros into the company, gives us the financial runway to be able to deliver on all our goals as we transition from a start-up to a manufacturer of full-electric trucks.”
The Volta Zero is designed for urban logistics, with the aim to reduce the environmental impact of freight deliveries in city centers, with a 150-200km range.
A prototype was launched in September 2020 and the Volta Zero is expected to eliminate an estimated 1.2 million tonnes of CO2 by 2025.
