Sanctions against Russia led to the end of the planned partnership with the GAZ Group, and then the Volta electric truck also stumbled, ultimately leading to another 200 terminations. But now there is hope again for Steyr Automotive – in the form of a partnership with the Chinese manufacturer SuperPanther.
At the end of July, Steyr Automotive caused a stir when around 200 employees registered for the AMS early warning system. After the company vacation, the dismantling became a fact. Another bitter cutback that became necessary because the production of Volta’s electric trucks did not get underway to the extent that had been planned.
Luxor Capital saved Volta
Volta had gone bankrupt and then made a new attempt under neo-owner Luxor Capital – but things are not going well yet. This also had consequences for production partner Steyr Automotive, where the number of employees will probably fall just under 1,000.
On Monday, the former MAN factory, which has been owned by Sigi Wolf since September 2021, caused a stir. The Upper Austrians presented a new vehicle at the IAA Transportation trade fair in Hannover. Together with the Chinese manufacturer SuperPanther, the electric truck eTopas 600 was developed, which will go into series production in Steyr from the end of 2025.
Three additional models planned
“As a company with more than a century of experience in truck production, Steyr Automotive has always been committed to new technologies,” says Manfred Eibeck, Vice Chairman of the Supervisory Board of Steyr Automotive. In addition to the eTopas 600 model being presented in Hannover, three more models will be developed.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
