Gotion set to increase its Ebusco shareholding
By Luke Willetts - 19th February 2025
Netherlands / China – Late last year cash-strapped Dutch EV bus manufacturer Ebusco Holding NV announced that Chinese battery maker Gotion High-tech Co Ltd based in Hefei was in the process of acquiring 9.3% of Ebusco for a price of EUR 5 million. Following the rights issue, Ebusco has convened an Extraordinary General Meeting (EGM) on 26 March 2025 to seek shareholder approval for further share issuance to Gotion, allowing Gotion to convert an additional EUR 4.01 million of its remaining accounts payable into equity. If approved, this would increase Gotion's stake in Ebusco to just over 10%. The proceeds from Gotion's investment will be used to service Ebusco’s debt obligations.
As part of the investment agreement, Gotion has exercised the right to nominate representatives to Ebusco's Management and Supervisory Boards. Gotion has proposed Duan Wei as Deputy CEO and Chen Li as a member of the Supervisory Board, subject to shareholder approval at the upcoming EGM.
