Volta Trucks

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. Glassdoor reviews add an inside angle: many staff said the end came within weeks — going from pay raises to restructuring to collapse — and that roughly 600 employees were let go with essentially no notice or notice pay, two months before Christmas. Beyond the supplier failure, multiple reviewers blamed loose cost control, describing investor money spent on travel, gifts and management parties as if the pre-revenue company were already profitable.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.