As part of its turnaround strategy and decision to outsource production and become an OED (Original Equipment Designer), the company announced a closed auction of bus, truck, and general automotive parts starting on Thursday, 23 January 2025.

The company announced it will be implementing job cuts this year as part of this restructuring plan. This will mean reducing its workforce by approximately 16.5%, equating to 102 full-time equivalent positions.

The Dutchman will work closely with new CEO Christian Schreyer and CCO Erland Morelissen as the executive management team implements the company’s turnaround strategy to address financial challenges and streamline its operations​.

The battery manufacturer Gotion has acquired 9.3% of Ebusco for a price of EUR 5 million. Within this agreement, it stipulates that Gotion can nominate a representative to Ebusco’s supervisory board and management board, subject to the approval of the Company’s shareholders.

The company will also consolidate its shares, merging five existing shares into one. Essentially the number of shares outstanding changes from 73,088,382 to 14,617,676. This consolidation aims to stabilise the stock price and improve trading liquidity.

In an attempt to plug the hole in the budget sheet by producing more buses and therefore fulfilling orders, the company revealed plans to raise up to EUR 36 million through a rights issue, allowing existing shareholders to purchase additional shares. This capital injection is part of Ebusco's broader turnaround plan, designed to improve its financial performance and operational reliability.

Schreyer replaces the previous leadership duo of Peter Bijvelds and Michiel Peters. His appointment comes at a critical time as Ebusco is undergoing a turnaround strategy to address financial challenges and streamline its operations​.

Morelissen is in charge of the company’s commercial strategy at a time when the company has been struggling with cash flow. He will report directly to founder and co-CEO Peter Bijvelds.

Now, in an attempt to plug the hole in the budget sheet by producing more buses and therefore fulfilling orders, the company is re-introducing the use of contract manufacturing through assembly partners in China to aid the main factory in Deurne.

Michiel Peters will be joining founder and co-CEO Peter Bijvelds who will focus on corporate strategy rather than product development.

The Ebusco 3.0 18-metre articulated city bus is designed for urban and regional transport operations and has a capacity for 150 passengers. It is powered with a choice of cobalt-free LFP 350+ and 500+ kWh battery packs, offering a range of up to  700 km.

The European e-bus market gathered in Bonn, Germany to test drive several OEM’s new electric bus (some articulated) offerings. T&BB was in attendance as we gathered at the Stadtwerke Bonn bus depot to begin comparison testing.