Volta Trucks raises $43.7 million in latest funding round

Proterra

16/09/2021 10:00

By Nick Carey
    LONDON, Sept 16 (Reuters) - Electric truck startup Volta
Trucks said on Thursday it has raised 37 million euros ($43.7
million) in its latest funding round led by hedge fund Luxor
Capital and including an investment by Volta's battery supplier
Proterra  PTRA.O .
    The latest funding brings Volta's total raised to 60 million
euros. Luxor also invested in the previous funding round.
    Volta said the funding will be used to develop a test fleet
of trucks for customers in Paris and London.
    The company aims to launch production of the Volta Zero, a
16-tonne electric truck, by the end of 2022 and says it
currently has an order book of 2,500 trucks worth more than 600
million euros.
    Volta Trucks said this month that its first trucks will be
made under contract starting in late 2022 in Austria by Steyr
Automotive, a newly formed company that has taken over a factory
that formerly belonged to Volkswagen AG  VOWG_p.DE  unit
MAN. urn:newsml:reuters.com:*:nL1N2Q915W
    
    

 (Editing by Jason Neely)