Volta Trucks, a Sweden-based developer of fully electric trucks, has filed for bankruptcy in Sweden. Volta plans to file for administration in the UK, where it has its main business and engineering operations with a workforce of approximately 600 employees.

The decision was a result of recent challenges the company has faced, including its production plans being significantly affected by the bankruptcy of its battery supplier, Proterra. This also had a negative impact on Volta’s ability to raise capital. 

Analyst QuickTake : Volta’s recent initiatives have been increasingly UK-focused. In August 2023 , it announced plans to trial its Volta Zero trucks in the UK and in June 2023, at its first “service hub” in Tottenham, North London. While these recent initiatives in the UK looked promising, the future of Volta Trucks remains uncertain, and the administration process in the UK will likely determine whether the company can find a path forward.