Volta Trucks raises $43.7 million in newest funding spherical

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Volta Trucks has raised 37 million euros ($43.7 million) in its newest funding spherical led by hedge fund Luxor Capital and consists of an funding by Volta’s battery provider Protera.

Electric truck startup Volta Trucks mentioned Thursday it has raised 37 million euros ($43.7 million) in its newest funding spherical led by hedge fund Luxor Capital and consists of an funding by Volta’s battery provider Protera.

The newest funding raises Volta’s complete quantity to 60 million euros. Luxor additionally invested within the earlier funding spherical.

Volta mentioned the funding can be used to develop a check fleet of vans for purchasers in Paris and London.

The firm goals to begin manufacturing of the 16-tonne electrical truck Volta Zero by the top of 2022 and says it at the moment has an order e-book of two,500 vans price over 600 million euros.

Volta Trucks mentioned this month that its first truck underneath contract can be in-built Austria on the finish of 2022 by Steyr Automotive, a newly fashioned firm that beforehand acquired Volkswagen AG unit Mann’s manufacturing unit.

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With inputs from NDTV

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