Electric truck manufacturer Volta Trucks has filed for bankruptcy in Sweden and is set to file for administration in England, after its production targets were hit by the demise of its battery supplier Proterra, which hampered its ability to raise funds.
The move sees 850 jobs under threat, of which 600 are in the UK, where the group recently opened a service hub in North London.
Volta is set to appoint insolvency practitioners from Alvarez & Marsal to deal with the administration of its English business.
