Volta Trucks, a manufacturer of full-electric commercial vehicles, closed a $20-million convertible debt funding raise.
Leading the raise was New York-based investment firm, Luxor Capital; Luxor Capital joins previous lead investor, Byggmästare Anders J Ahlström of Stockholm, and a number of supporting shareholders.
The order book for the Volta Zero, a purpose-built full-electric large commercial vehicle, now stands at more than $260 million. This follows a successful commercial period of customer acquisition for the company, with a significant number of additional vehicle orders expected to be announced in the coming weeks. The first Volta Zero vehicles are expected to be operating with customers in late 2021.