Volta trucks sells over 300 all-electric trucks totaling more than $92M in revenue

Ahead of its start of series production next quarter, commercial EV startup Volta Trucks announced it has locked in customer orders for over 300 of its all-electric Volta Zero trucks. These orders alone secure a huge chunk of the company’s overall production targets for 2023, representing customer demand and cause for optimism as Volta Trucks finally looks to begin initial EV deliveries and expand to additional markets.

Volta Trucks is a London-based commercial EV startup that offers “Trucks as a Service” (TaaS). Since its inception in 2019, the company has been consistently working to deliver its first commercial truck, the Volta Zero, which began as a mere concept drawing.

The first Zero is a 16-ton electric truck, but Volta has since shared plans for three additional variations scheduled to arrive by 2025. Until then however, Volta’s focus has remained on reaching scaled production of its flagship model, sharing its process along the way.

Last fall, we saw the Volta Zero electric truck prototypes tested under extremely hot conditions, which was followed by the news that the very first Zero had rolled off its assembly line overseas, kicking off the 16-ton model’s last phase before commercial production.

With scaled production slotted to begin in a couple months, Volta Trucks has already secured a slew of customer orders totaling tens of millions of dollars right out of the gate.

Volta gets orders for hundreds of electric trucks before SOP

According to an official release from Volta Trucks this morning, over 300 of the manufacturing slots planned for its start of electric truck production are spoken for.

By securing these customer orders, Volta explains that it expects to see revenue totaling over 85 million euros ($92 million). Volta Trucks CEO Essa Al-Saleh spoke to the company’s quickly growing order book:

Volta Trucks has made important progress in the first few weeks of 2023, confirming more than 300 customer truck orders for the first vehicles off our production line in Austria. This covers a meaningful portion of our 2023 production targets, before customers have pilot tested the vehicles. This is a major achievement and demonstrates the compelling features of the Volta Zero and the trust that our customers have in our ability to deliver. Volta Trucks is poised for a successful first year of sales and production. We are confident and focused on delivering on our strategic ambitions and purpose to decarbonize and improve the safety of city centers.

Volta added that its contract manufacturing plant in Steyr, Austria, is ready to meet the customer demand the company is celebrating today. Volta Zero series production remains on track to begin early Q2 2023.

As previously reported, Volta is also planning to begin electric truck sales in the US by 2024, beginning with a pilot program in Los Angeles later this year.