The company Volta Trucks, which makes electric trucks, is in a lot of trouble. They are looking for someone to buy the company and help them make their trucks. They filed for bankruptcy because one of their suppliers, Proterra, also went bankrupt, and they had problems with their battery supplier, which made it hard to get enough money.
They were very close to starting production of their trucks when they went bankrupt. They had received about 460 million euros (about $488 million) from investors. People who ordered their trucks still want them, and some potential buyers are interested in taking over the company.
The company’s management is trying to find a buyer quickly because if they can’t, the people in charge of handling the bankruptcy will start selling the company’s assets to pay its debts.
The management is talking to investors to try to find a buyer for the company by next week. The administrators in charge of the bankruptcy couldn’t be reached for comment.
Many electric vehicle companies, like Volta Trucks, have faced problems recently because they couldn’t get enough money to keep going. Some of them, like Proterra and Lordstown Motors, have had to declare bankruptcy.
