Electric truck maker Volta blames supplier woes as it nears collapse

Volta, the electric truck start-up, has revealed it is to collapse after supplier difficulties made it hard to raise funds. Volta said it would file bankruptcy proceedings in Sweden, where the group is based, and seek to appoint Alvarez & Marsal as administrators for its main UK operation where it has manufacturing and research and development facilities.

The company said of its looming demise on Tuesday: 'Piloting in five countries in Europe, we received fantastic feedback, which led to a strong pipeline of highly reputed customers who wanted to introduce our Volta Zero Trucks into their fleets. 'However, like all scale-ups in the EV manufacturing sector, Volta Trucks has faced challenges along the way.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Electric vehicles not to blame' for Preston Inchcape Jaguar Land Rover dealership fireThe cause of a huge blaze which destroyed a luxury car dealership in Preston remains a ‘mystery’ – but electric vehicles are not to blame, say investigators.
Source: leponline - 🏆 50. / 63 Read more »

Test drive chaos as £190K electric McLaren bursts into flames mile from dealerThe once shiny and brand new black McLaren turned into a wreckage of ash and rubble
Source: leedslivenews - 🏆 118. / 51 Read more »

Hong Kong: 11kg of suspected cocaine found in electric wheelchair at airportThe wheelchair was one of two pieces of the suspect's checked baggage and it was searched after Hong Kong customs officers became suspicious after they found evidence its seat cushion and backrest had been opened and restitched.
Source: SkyNews - 🏆 35. / 67 Read more »

Hong Kong customs seize 11kg of cocaine stashed in electric wheelchairA man has been arrested following the discovery of the drugs, which had a street value of £1.26 million.
Source: itvnews - 🏆 69. / 61 Read more »

Extreme E: How all-electric racing series combats the climate crisis through education, innovation and actionExtreme E showcases what motorsport can achieve when it puts the fight against climate change front and centre.
Source: SkySportsNews - 🏆 60. / 63 Read more »