Ebusco Faces Imminent Bankruptcy After €200 Million Loss
Deurne, Wednesday, 30 April 2025.
Ebusco, a Dutch electric bus manufacturer, reported a staggering €200 million loss for 2024, facing imminent bankruptcy without a capital injection. A court ruling on a supplier’s bankruptcy petition is due on 6 May 2025.
Dramatic Revenue Decline
The Deurne-based electric bus manufacturer has experienced a catastrophic decline in revenue, plummeting from €102.4 million in 2023 to merely €10.7 million in 2024 [1]. The company’s cash reserves have dwindled to a critical level of €2.4 million, down from €27.9 million in 2023 [2]. Despite delivering 157 buses in 2024, primarily to customers in France and Germany [3], Ebusco has struggled with widespread order cancellations, with 361 buses canceled in 2024 and an additional 55 in 2025 [4].
Management Response and Restructuring Efforts
CEO Christian Schreyer has acknowledged the severity of the situation, stating that ‘2024 has been an extremely challenging year for Ebusco, and 2025 continues to be very challenging’ [5]. The company has already implemented significant cost-cutting measures, including the consolidation of its Dutch facilities and a workforce reduction of over 100 employees, representing approximately 16.5% of its staff [6]. Additionally, Ebusco has shifted from an OEM (Original Equipment Manufacturer) to an OED (Original Equipment Developer) model to enhance capital efficiency [7].
Critical Timeline and Future Prospects
A crucial court hearing is scheduled for May 6, 2025, following a supplier’s bankruptcy petition due to unpaid invoices [8]. The company’s survival hinges on securing substantial new funding before this date. Ebusco has secured commitments for €22 million in debt financing, including €10 million each from Green Innovation International Co. Ltd. and CVI Investments Inc., with an additional €2 million from De Engh B.V., all due by August 15, 2025 [9]. However, the company’s overdue accounts payable currently exceed its available liquidity, putting it at significant risk of insolvency [10].