Volta Trucks
EV trucksSweden
New to Unitard
π Dead / Bankrupt
PeakΒ $1 BillionToday
~-100%
from peak
- π¦Became a unicorn~2022
- πPeak valuation$1 Billion β22
- πBecame a UnitardOct 2023
- πΈLast valuationWiped out
π₯ Raised & burned
$390M
Total raised
$249K/day
Burned Β· 4.3y alive
Funding: Wikipedia/Reuters
Current status
Bankrupt Oct 2023
The rise & fall
6 moments Β· 2019β2023The key moments, with employee sentiment along the way.
2019
2019
Founded to electrify the delivery truck
A Swedish-founded startup building the Volta Zero, an all-electric truck designed for city deliveries.
Wikipedia
2022
2022
The peak: ~$1B on the Volta Zero$1B
About $390M raised to put the Zero on city streets carries the pre-revenue truck maker to an estimated ~$1B.
Reuters
Aug 2023
Aug 2023
Battery supplier Proterra goes bankrupt
Volta's key battery supplier files Chapter 11, choking Zero production just as new funding gets scarce.
Reuters
2023
From the inside Β· Glassdoor reviews, 2023
Glassdoor reviews captured the whiplash β pay raises to restructuring to collapse within weeks, roughly 600 employees let go with essentially no notice or notice pay, two months before Christmas. Many reviewers blamed investor money spent on travel, gifts and management parties.
Oct 2023
Oct 2023
Insolvency β joins the Unitard Club π
Weeks after Proterra's collapse, and unable to secure further funding, Volta files for insolvency.
Canary Media
$1Bof peak value erased Β· 4 years
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Volta Trucks was a Swedish-founded startup developing the all-electric Volta Zero urban delivery truck, reaching an estimated ~$1B valuation around 2022. Hit by the bankruptcy of a key battery supplier (Proterra) and unable to secure further funding, it filed for insolvency in October 2023.
Source: Canary Media
Where they went
- Essa Al-SalehCEO (at bankruptcy)CEO at Agitero AG
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
