City of Riverside, CA
11/20/2024 | Press release | Distributed by Public on 11/20/2024 17:50
City of Riverside Welcomes Voltu Motor Inc. to Green Technology Powerhouse
Published: 11/20/2024
FOR IMMEDIATE RELEASE:
Nov. 20, 2024
Contact:
Phil Pitchford
Public Information Officer
951-826-5975
City of Riverside Welcomes Voltu Motor Inc. to Green Technology Powerhouse
City Council votes to purchase electric trucks for use by utilities, streets, parks field crews
RIVERSIDE, Calif. - Voltu Motor Inc., a technology and innovation company and creators of a new class of commercial electric trucks that are expected to be in great demand across California and the nation, will locate its global headquarters and manufacturing facility in Riverside, with the City receiving 20 of the first vehicles for use in its utilities, streets and parks departments.
The City of Riverside and Voltu held a news conference today to explain the importance of the agreement. Video can be found at https://www.youtube.com/live/N6pvY5Hzrj8?feature=shared.
Voltu, originally from Argentina, is the latest addition to the growing green technology business hub in Riverside. The technology and innovation company specializes in electric power, medium-duty trucks with a focus on cutting-edge technology and eco-friendly design, prioritizing quality and performance.
"Voltu is well situated to meet a growing demand for electric trucks that will be required by local governments all over the state in the coming years," Mayor Pro Tem Jim Perry said. "This opportunity benefits the City on many levels, from priority access to vehicles, to job creation and sales tax generation."
Voltu plans to establish a manufacturing and research facility capable of producing approximately 14,000 vehicles during their first three years of operations in Riverside. Initially, the company will relocate 20 employees from Argentina and expects to create more than 400 jobs within the next four years, rising to 700 jobs over time, with more than 1,200 indirect jobs being created in supporting industries.
The City of Riverside will be the point of sale, meaning that sales taxes from the vehicles will return to the City to help pay for local quality of life improvements. Voltu's projections anticipate $1.6 billion in revenue from the deployment of over 14,000 trucks.
The City has agreed to purchase 20 Voltu electrified F350 XL Crew Cab 4WD trucks to increase vehicle reliability, reduce air pollution locally, and help the City meet statewide emissions regulations for clean fleet vehicles. The Voltu trucks will replace diesel and other aging vehicles slated for replacement in the City's fleet.
State law requires municipalities to add zero-emission vehicles to their fleets as a percentage of their purchases each year. As of this year, 50 percent of vehicle purchases must be zero-emission vehicles, rising to 100 percent by Jan. 1, 2027.
Voltu is advancing the commercial EV trucking sector, addressing a critical market gap and providing a clear advantage for potential commercial buyers in terms of performance, reliability and versatility. Its product line dovetails with the City of Riverside's vision to be the green technology leader of the world with a commitment to transitioning the City fleet to electric vehicles.
"We need to transform how energy is generated and consumed to ensure our planet's future. Riverside offers not just a logistics hub, but also an ecosystem aligned with our values of trust, prosperity, and sustainability," said George Gebhart, Founder and CEO of Voltu Motor. "Our journey to Riverside started almost two years ago working with UCR. Now working with the city, we've seen Riverside's potential as a green-tech powerhouse. Together, we can create jobs, drive innovation, and protect our most precious asset -- our planet."
This cooperative effort between the City of Riverside and Voltu, with major assistance from UC Riverside, capitalizes on the rich talent pipeline that exists among our education system, including STEM-focused early education programs, trade schools, Riverside Community College, and three exceptional universities, as well as Riverside's distinction as the Southern California home of the California Air Resources Board.
Voltu has worked for two years establishing relationships with the UC Riverside (UCR), the Center for Environmental Research and Technology (CE-CERT), and the Office of Technology Partnerships and Small Business Technology Transfer Program, as well as the Build to Scale Program offered at UCR.
"One of the key reasons I believe Riverside was the right choice for Voltu is the incredible talent pipeline we're cultivating," said Rodolfo H. Torres, UCR's Vice Chancellor, Research and Economic Development. "UCR is home to some of the brightest engineering students and researchers, many of whom are working on cutting-edge projects in areas like battery technology, clean energy, and advanced manufacturing. These students, along with talent from our neighboring colleges and universities, represent the workforce of tomorrow -- the individuals who will design, build, and optimize Voltu's commercial electric trucks in the years ahead."
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