On 25 October, the entire Board of Directors at the Canadian manufacturer resigned from their positions, following the grant of a petition for receivership of the company by the Royal Bank of Canada.

The reason: Hino Motors concluded that it is “unlikely that the business of Shanghai Hino will grow in a sustainable manner” due mainly to growing sales of electric-powered commercial vehicles and construction machinery in China.

This move came as the company struggled with debts exceeding USD 35 million, prompting them to seek assistance in managing their financial challenges​. The company currently has manufacturing plants in Queensland and South Australia, producing diesel, hybrid and zero-emission buses.

In June, Phan Phạm Hà, the company’s General Director was arrested for financial management violations – causing the company’s stock price to plunge.

The administrators (ReSolve Advisory Ltd) announced that after this failure, the majority of the staff have been made redundant as the company prepares for an asset auction.

Through a special-purpose entity, “Zevx Liquidation LLC”, Resolution is running two sales processes in parallel: an auction of ZEVx equipment at its location in Gilbert, Arizona; and a separate sale of the company’s intellectual property. Attached to this article is a sale memorandum, providing details of the intellectual property and assets on offer.

ReSolve Advisory Ltd has been appointed as administrator as the company searches for interested partners and investors.

No further details have been announced, except that the two partners will initially keep between 650 and 950 Van Hool workers in employment.

Once valued at GBP 200 million (2022), the company has blamed UK Prime Minister Rishi Sunak for pushing back the ban on ICE vehicles. Lunaz has ceased operations of its commercial unit ahead of a restructuring, with plans to revive its passenger car repowering business in the near future.

The 149 e-buses, which had been removed pending investigation of a fire, are being after a detailed report was sent to RATP in Paris explaining the main cause of the fire and the actions being taken to rectify the problem. The Bollore Group attributed the fire to “the assembly of an electronic component which caused a short-circuit between the cells making up the battery packs.“

Gillig has apparently bought the former Lightning eMotors site in Loveland, Colorado, and it will retain some of the company's engineers in order to turn it into a dedicated electric powertrain technology hub. 

In a ruling dated 1 February 2024, the CJEU concurred with the 2022 ruling of the General Court and dismissed Scania’s appeal, meaning that the manufacturer has finally lost its case against the EUR880m fine first handed down in 2017.