"We re pleased to have safeguarded the future of Volta Trucks by facilitating its acquisition by Volta Commercial Vehicles Ltd," Andrea Jakes, managing director of Alvarez & Marsal and one of the administrators, said in a statement.
Volta Trucks, which had been conducting customer trials across Europe, collapsed in October after struggling to secure funding due to problems with its battery supplier.
The UK business and assets of Volta Trucks have been sold to a new unit of hedge fund Luxor Capital, which had invested heavily in the electric truck maker, the bankrupt company s administrators. -December 01, 2023 at 05:12 am EST
- MarketScreener
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