UK electric truck startup Volta Trucks has been bought by hedge fund Luxor Capital, an existing investor, from the administrators.
The administrators from Alvarez & Marsal said in a statement that the sale "safeguarded the future of Volta Trucks", with Luxor's Volta Commercial Vehicles arm taking ownership.
Prior to its collapse, Volta had raised more than €460 million to commercialise its Zero truck, which is designed for inner city deliveries and had trials with Marks & Spencer and brewer Paulaner among others.
Most of the 600 staff employed at its main UK manufacturing, research and development facilities no longer have jobs, according to Sky News.
Volta, which is based in Sweden, filed for bankruptcy in October, having, like all startups in the EV manufacturing sector, faced a number of challenges, including funding difficulties in the last year particularly.
The final nail in the coffin was the collapse of its battery supplier, Proterra, which opened its first service hub in Tottenham earlier this year.
Proterra’s failure hit Volta's manufacturing plans, severely impacting the volume of vehicles it could produce.