Deutsche Post is said to have found a buyer for the electric transporter manufacturer StreetScooter. As the world reports, the Luxembourg company Odin Automotive, which was only founded in mid-September, is to take over all shares in the Post subsidiary StreetScooter Engineering based in Aachen. This emerges from a registration with the Federal Cartel Office.
The main shareholder of Odin is well known in the industry: It is the manager Stefan Krause, who was once a board member at BMW and Deutsche Bank and is now mainly in the e-mobile start-up scene. Manager Magazin had already reported in mid-September that Krause had expressed an interest and had allegedly named 100 million euros as the purchase price. Krause most recently held management positions at the e-mobility companies Canoo, Fisker and Faraday Future and became Deputy CEO at the Canadian raw materials company Rock Tech Lithium a good six months ago.
According to Welt, other Odin shareholders are the Singapore-based financial expert Djamal Attamimi from the Indonesian coal mining group Toba Bara and the manager and entrepreneur Matthew Paul Richards from the Indonesian telecommunications company Trikomsel Oke. Neither StreetScooter nor Deutsche Post have commented on the intention to buy Odin Automotive.
Despite favorable conditions in an up-and-coming industry, StreetScooter was a loss-making business for Deutsche Post: In 2020 alone, the logistics giant lost 318 million euros, after a loss of 115 million euros in 2019. All in all, Swiss Post was responsible for StreetScooter for seven years. The original plan was to first build up its own fleet of electric delivery vehicles and then to sell the vehicle, which was developed and produced in Germany, to third parties.
However, the difficulties got out of hand over time. There was talk of technical problems, too little loading capacity, and production figures that were far behind plans. At the beginning of 2020, Deutsche Post finally decided to stop the loss-making production. Now the future of StreetScooter seems secured. This can also be seen by looking at current job advertisements. For example, the company is currently looking for software developers for autonomous logistics applications.
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1 thought on “Former BMW manager Krause probably wants to take over StreetScooter”
Let’s be surprised how this goes on.
You just can’t choose intelligent shareholders in the Deutsche Post DHL Group.
That’s how it is in AGs
it remains exciting