Volta Trucks’ UK assets bought by New York-based investment firm
By Bradley Osborne - 11th December 2023
Sweden / USA / UK – The UK-based assets of Volta Trucks AB, the erstwhile manufacturer of electric trucks based in Stockholm, Sweden which filed for bankruptcy in October, have been acquired by Luxor Capital Group LP of New York City, USA, according to a Reuters report.
Administrators from professional services firm Alvarez & Marsal Holdings LLC sold the UK business and assets to a new entity, ‘Volta Commercial Vehicles Ltd’, supported by a hedge fund of Luxor Capital Group. The majority of the Swedish company’s business operations, including design and engineering work, were carried out in the UK from a London address, and a 30,000-square-foot site in Tottenham, incorporating workshops, offices, and a showroom, was announced last year.
