Volta Trucks, a Swedish electric truck startup, has filed for bankruptcy after failing to secure a battery supplier and additional capital. The company, founded in 2017, had developed a prototype of a fully electric truck scheduled to go into production in 2023.
However, Volta Trucks could not secure a battery supplier after its original supplier, Proterra, went bankrupt in August 2022. The company was also unable to raise additional capital to support its operations.
Volta Trucks’ bankruptcy is a setback for the electric vehicle industry. The company was seen as one of the leading contenders in the emerging market for electric trucks. Volta Trucks’ trucks were designed to be more efficient and environmentally friendly than traditional diesel trucks.
The company’s bankruptcy also raises concerns about electric vehicle startups’ challenges. Many startups need help raising capital and securing supplies of key components, such as batteries. These challenges will likely continue in the near term as the electric vehicle industry grows and matures.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
May 28, 2025: SpaceX’s latest Starship test flight, conducted on May 27, 2025, ended in failure when the spacecraft’s upper stage broke apart during its descent over the Indian Ocean.
May 27, 2025: Greek Coastguards Charged Over 2023 Pylos Migrant Shipwreck That Killed Hundreds
May 27, 2025: Volvo to Cut 3,000 Jobs in Europe as Part of $1.9B Restructuring Amid EV Slowdown and Tariff Pressures.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
