Shearman And Sterling

News February 21, 2022

Volta Trucks raises €230 Million in its Series C Preferred Shares Financing

Shearman & Sterling advised Volta Trucks AB (Volta) on its €230 million Series C preferred shares financing, pursuant to which Volta issued and sold its newly created Series C preferred shares to affiliates of Luxor Capital Group, Byggmästare Anders J Ahlström, B-FLEXION and Agility International Investment, among other investors.

The Series C Financing is expected to fund Volta’s engineering and business operations through the end of 2022, including the development of the recently confirmed 7.5- and 12-tonne full-electric Volta Zero derivatives and the preparation of Volta’s contract manufacturing facility in Steyr, Austria to start production of customer vehicles by the end of the year.

Volta is the leading and disruptive full-electric commercial vehicle manufacturer and services provider that has offices in Sweden, France and the United Kingdom. Volta is partnering with a number of global leaders in the supply chain for the development and production of the Volta Zero, the world’s first purpose-built full-electric 16-tonne vehicle designed for inner-city logistics and reducing the environmental impact of freight deliveries in city centers.

The Team