Since the opening of the bankruptcy procedures for the Austrian subsidiary, it was clear that the financial difficulty was huge, it is clear: e-truck company Volta Trucks is confronted with total. The company established in England announced on Thursday: it is also a broke.
From the start, some had not believed that this could be something with the electric trucks from Volta Trucks, while the company itself underlined a tour of the halls of the halls at production partner Steyrr-Automotive that it was seriously that serious customers and orders were also generously secured.
But since Thursday, May 8, it has become clear: the last dreams that there can be a future for Volta trucks are also cracking. After the company once registered a bankruptcy in the autumn 2023, thanks to the acquisition of the Hedgefonds Luxor Capital, you are now brutal again.
Missing tail wind through politics for transformation
The decision was not made easy to apply for insolvency procedures, they emphasize. But the environment, and also the weakening support of governments for transformation to e-mobility, had brought the restart into a huge start after the first bankruptcy. Ultimately, it could not offer any further financial support.
On April 30, the Austrian subsidiary of the company, Volta Commercial Vehicles GmbH, submitted a bankruptcy application in Vienna. This was also necessary because the only shareholder in England had closed the Weldap. Every week, parts for which there was no longer used with the production partner in Steyr.
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.
