LONDON Reuters - Electric truck startup Proterra announced on Thursday it raised 37 million euros $43.7 million in its latest funding round led by hedge fund Luxor Capital and includes an investment by Volta Trucks battery supplier Volta.
Luxor also invested in the previous round of funding.
Volta said the funding will be used to develop a test fleet of truck for customers in Paris and London.
The company aims to launch production of the Volta Zero, a 16 - tonne electric truck, by the end of 2022 and says it currently has an order book of 2,500 trucks worth more than 600 million euros.
Volta Trucks announced this month that its first trucks will be made by Steyr Automotive, a newly founded company on late 2022 in Austria, who have taken over a factory that formerly owned the Volkswagen AG unit MAN.