Volta Trucks, the fully electric commercial vehicle manufacturer, has confirmed the extension of its Series C funding round with an additional €60 million of capital into the company on top of the previous €230 million. The funding round, which was supported by all current investors, brings the total investment into the company to over €360 million to date.
The funding announcement comes as the company completes its first customer-driving evaluations of the Volta Zero Design Verification prototype in European markets. The event gave customers their first experience of the zero-tailpipe emission medium-duty truck designed for urban logistics, providing a real-world understanding of the vehicle’s performance, world-first driver-centric cab and innovative safety features.
Confirming the new investment, Douglas Snyder, Chairman of the Board of Directors of Volta Trucks, said: “The extension to our Series C funding round gives us further positive external validation of our journey, and our pre-order book gives us confidence from our customers that we are developing a product that the market needs.”
Volta Trucks has also signed a letter of intent with Siemens Smart Infrastructure that outlines cooperation to deliver comprehensive charging infrastructure and software to Volta Trucks customers.
The strategic partnership will aim to bring a unique solution to commercial vehicle fleet electrification and operational expertise. This includes software control systems, facility electrification, charging infrastructure, energy management, building equipment and project finance.
“At Volta Trucks, we have a very loyal, engaged and future-facing cap table of investors supporting our journey,” Snyder added. “Nobody has done what Volta Trucks is doing before, and this needs significant investor confidence and trust in the company vision, strategy, business case and ongoing deliverables.”