Investors wanted

For comeback: Steyr customer still needs money

Production of the e-trucks for Volta in Steyr will not start until further investors are on board.

(Bild: Markus Wenzel)

The Volta e-truck brand has put the bankruptcy and the associated uncertainty behind it. But it will still be a while before production of the vehicles can start again at Steyr Automotive. Because it is now clear that assembly in Upper Austria will not start until a financing round has been completed.

At the end of February, Steyr Automotive announced that the former MAN plant had signed an initial agreement to continue production for Volta. "After intensive negotiations and constructive cooperation between all parties involved," it said at the time.

Most of our interested customers from 2023 are looking forward to testing and buying the Volta Zero.

Essa Al-Saleh, Geschäftsführer Volta Commercial Vehicles

But until work can actually resume in Upper Austria, the e-truck company, which has been rescued from insolvency and is now officially called Volta Commercial Vehicles Ltd, still needs money - as Managing Director Essa Al-Saleh revealed in a letter to customers, suppliers, partners and employees.

Following the takeover by Luxor Capital, a financing round is now needed to attract investors. The amount of money raised in this way should be known by the middle of the year.

Regulated truck production later in the year
"The restart of production at Steyr Automotive will be initiated once the financing round has been completed," says Al-Saleh. Regulated truck production is planned for later in the year.