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Ebusco Receives Chinese Investment
Ebusco, facing financial distress due to canceled orders and production issues, receives a lifeline from Chinese battery maker Gotion.
Dutch
Netherlands
TechnologyChinaNetherlandsEnergy SecurityInvestmentFinanceBusinessRescue
EbuscoGotionHeights Capital ManagementIng
Peter Bijvelds
- How is Gotion assisting Ebusco?
- Ebusco aims to raise \u20ac36 million through a share issue to avoid collapse. Founder Peter Bijvelds, Heights Capital Management, ING's investment fund, and the Van der Valk family are among those investing.
- What is the main reason for Ebusco's financial difficulties?
- Ebusco, a struggling electric bus manufacturer, is receiving aid from its Chinese supplier, Gotion. Gotion is considering taking a stake in Ebusco and will help develop technology and sell buses in Asia.
- What is the total amount of money Ebusco is aiming to raise?
- Two clients canceled large orders, causing Ebusco's financial struggles. The company faced part shortages, staffing issues, and missed deadlines, resulting in penalties and a plummeting stock price.
- Who are some of the investors supporting Ebusco's rescue plan?
- The collaboration involves Gotion assisting with technology development and Asian market expansion. Gotion's potential investment is significant for Ebusco's survival, contingent on current shareholder interest.
- What is the potential outcome if Ebusco fails to secure the necessary funding?
- Despite initial setbacks, shareholders recently approved a rescue plan involving a \u20ac36 million capital raise. Without this funding, Ebusco would likely face insolvency within the first months of next year.