Strategic Private Equity Investor joins and new CEO Ulrich Hermann is appointed

Aachen, August 31, 2020 – nd Industrial Investments B.V., part of nd Group B.V., an international private equity, joins the German electric car manufacturer e.GO Mobile AG as majority shareholder in the Next.e.GO Mobile SE alongside the management team and the founder Prof. Günther Schuh. On September 1, 2020, Next.e.GO Mobile SE will take over the entire business of e.GO Mobile AG including all subsidiaries and will continue with the employees through a transfer of operations.

Impacted by the unprecedented Covid-19 pandemic, e.GO Mobile AG, previously valued at more than EUR 1.0 bn, the only independent German EV car manufacturer, filed for insolvency under its own administration on April 2, 2020. The purchase contract with Next.e.GO Mobile SE was notarized today. The purchase price is undisclosed.

Next.e.GO Mobile starts with a new and enhanced structure as a European SE and with a new CEO: Ulrich Hermann, former board member of the listed Heidelberger Druckmaschinen AG and a proven digitization expert. Prof. Günther Schuh takes over as the chairman of the administrative board along with other board members.

As soon as the approval as a vehicle manufacturer for the new company is granted and the supplier contracts have been updated, activity at the Aachen Rothe Erde plant is to start anew. Service and sales of the small electric car e.GO Life are already active again.

The general representative of e.GO Mobile AG during the insolvency proceedings, Dr. Paul Fink from FRH Düsseldorf, a law firm specializing in restructuring and insolvency law, speaks of a great success: “e.GO Mobile was not a classic restructuring case, but a well-positioned start-up with a proven car on the road that ran out of growth capital, predominantly due to the unprecedented situation during the corona pandemic.”

Founder Prof. Günther Schuh is relieved: “We didn't just want to survive the pandemic and the crisis it caused, we wanted to come out stronger and become the German icon that e.GO is destined for. To do this, we needed to find a professional and strategic partner with whom we could realize our great growth potential. We found that with our new partner and its visionary leadership.”

Dr. Thomas Poplat, Manager M&A at nd Industrial Investment B.V. added: “We are excited to support e.GO Mobile as it well resonates with our focus on sustainability, electrification and digitalization.“

 

Next.e.GO Mobile SE
Next.e.GO Mobile SE based in Aachen is a manufacturer of electric vehicles and sustainable mobility systems. On the RWTH Aachen Campus 400 employees of Next.e.GO Mobile SE take advantage of the unique network of science and business with 420 technology companies and a comprehensive research infrastructure. The agile teams work on a variety of cost-effective and highly durable electric vehicles for short-distance traffic.
www.e-go-mobile.com


Contact:

Next.e.GO Mobile SE
Public Relations
Campus-Boulevard 30
52074 Aachen                                                                           
T +49 241 47574-227                                                                
presse@e-go-mobile.com

 

ND Group B.V.
Laura Asbjornsen
Public Relations
Laura.Asbjornsen@nd.net



This website is using cookies to provide a good browsing experience.

These include essential cookies that are necessary for the operation of the site, as well as others that are used only for anonymous statistical purposes, for comfort settings or to display personalized content. You can decide for yourself which categories you want to allow. Please note that based on your settings, not all functions of the website may be available.

Privacy statement Legal Notice
This website is using cookies to provide a good browsing experience.

These include essential cookies that are necessary for the operation of the site, as well as others that are used only for anonymous statistical purposes, for comfort settings or to display personalized content. You can decide for yourself which categories you want to allow. Please note that based on your settings, not all functions of the website may be available.

Privacy statement Legal Notice
Your cookie preferences have been saved.