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.

In an attempt to generate operational capital, the Board approved plans for an accelerated book-build offering of newly issued ordinary shares at an extraordinary general meeting on 29 January 2024.

Ebusco is set to supply Italian central purchasing organisation Consip*, with 250 of its low-floor suburban Ebusco 2.2 12-metre electric buses, marking a milestone first order in the Italian market.

Ebusco is set to supply another twenty Ebusco 2.2 12-metre buses to Belgian transport operator Multiobus. The company also confirmed that the framework agreement signed last year with Deutsche Bahn will be extended until 2026.

The company posted revenues of EUR 41.7 million in H1 2023. Ebusco’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) was EUR - 43.5 million leading to an overall loss of EUR - 35.8 million.