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Gotion Rescues Ebusco
Chinese battery maker Gotion is helping financially troubled Dutch electric bus manufacturer Ebusco through a strategic partnership and potential investment.
Dutch
Netherlands
ChinaNetherlandsEnergy SecurityInvestmentFinanceElectric VehiclesRestructuringPartnership
EbuscoGotionHeights Capital ManagementIng
Peter Bijvelds
- What is the outlook for Ebusco's future?
- Ebusco's survival hinges on securing the \u20ac36 million through the share issue. The involvement of Gotion and other investors offers a lifeline, but success is not guaranteed.
- What is the role of Gotion in Ebusco's rescue plan?
- The collaboration involves Gotion assisting Ebusco with technological advancements and market expansion in Asia. Gotion may also acquire a significant share in the company.
- What factors contributed to Ebusco's recent struggles?
- Two clients canceled large orders, leading to Ebusco's financial distress. The company is facing delays and penalties due to parts shortages and staffing issues, causing a significant drop in its share price.
- How is Ebusco attempting to overcome its financial difficulties?
- 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 nature of the collaboration between Ebusco and Gotion?
- 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.