(PTRA) – EV Maker Volta Vehicles Raises $43.5M In Collection B Funding, Broadcasts 2,500 Pre-Orders

Volta Vehicles, a number one electrical truck firm, introduced receiving new funding and shared an replace on order numbers Thursday morning.

What Occurred: The Swedish electrical car firm mentioned it had raised EUR 37 million ($43.58 million) in a Collection B funding spherical.

Luxor Capital Group, an present investor, led the Collection B spherical, which additionally noticed participation from Proterra (NASDAQ: PTRA) and Agility.

The corporate shared an replace of hitting greater than 2,500 pre-orders and hitting an order worth of greater than EUR 600 million. The order worth for Volta has doubled prior to now three months, the corporate reported.

“To have the ability to concurrently announce that we now have over 2,500 pre-orders for the full-electric Volta Zero, reveals that clients additionally perceive and share our mission to [revolutionize] and [decarbonize] metropolis [center] logistics and produce full-electric industrial autos to market as quickly as doable,” Volta Vehicles CEO Essa Al-Saleh mentioned.

The corporate will develop Pilot Fleet autos for patrons in London and Paris in mid-2022 and plans to enter full-scale manufacturing by the top of 2022.

Associated Hyperlink: See Benzinga’s Electrical Car Hub 
Why It’s Essential: Proterra joins as an investor in Volta Vehicles. The corporate is a battery provider on the Volta Zero.

Agility is a provide chain and logistics firm that joins as an investor to proceed on its technique of investing in corporations which have proven provide chain sustainability.

Volta plans to have over 27,000 autos to be bought by 2025. The corporate has a producing partnership with Steyr Automotive.

The Volta Zero will include a variety of 95 miles to 125 miles and will remove 1.2 million tonnes of Co2 by 2025.

Picture: Courtesy of Volta Vehicles

© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

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