Reimagining Inner-City Freighting
Founded in 2019 by entrepreneurs Carl-Magnus Norden and Kjell Walöen, Volta Trucks has since garnered $25 million in funding from investors like Luxor Capital Group and has established offices in Sweden, France, and the UK.
The startup company plans to offer its electric vehicles to customers in the form of a Truck-as-a-Service (TaaS) program. Businesses looking to utilize one of the Volta Zero units will simply pay an all-inclusive monthly fee covering the use of the EV, insurance, and driver training, as well as any maintenance, service, or replacement needs during the period of use.
The startup business claims that its Volta Zero is “the world's first purpose-built full-electric 16-tonne vehicle designed for inner-city freight deliveries.” The EV sports a range of 95-125 miles, and is unique in that the driver is situated in the middle of the cab, which is much lower to the ground than typical commercial vehicles. The result of these changes is that the driver now has a 220-degree field of view, reducing the overall blindspots for the EV and improving safety measures. The startup business estimates that its electric vehicles will eliminate 180,000 metric tons of CO2 by 2025.
Electric Truck Industry Outlook
Market research predicts that the global electric commercial vehicle market size will reach $178.56 billion by 2026, growing at a compound annual growth rate (CAGR) of 8.3% from 2021-2026. Volta Trucks planted itself firmly in the growing business. In January, the company reported that orders for the startup’s EV, Volta Zero, surpassed $260 million. Volta Trucks expects customers to be actively using its electric vehicles later this year.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.