Ebusco (Euronext: EBUS), announces a proposed strategic partnership with Gotion, who has been a longstanding battery supplier to Ebusco.
This marks an exciting new phase in the collaboration between Ebusco and Gotion that builds on the cooperation that both companies started in 2018. Gotion, who is listed on the Shenzhen Stock Exchange, is a leading technology-based company, focused on power battery technology research, development and innovation.
The partnership envisages (1) mobilizing Gotion’s advanced battery technology, allowing the further development of Ebusco’s lightweight buses with a substantially longer range battery, (2) supporting Ebusco in the international expansion of the lightweight bus in Asia, and (3) cooperation in relation to the expansion of Ebusco’s maritime offering.
Gotion is considering to cement the partnership with an equity participation in Ebusco. To that end, Ebusco will offer Gotion excess shares, i.e. shares for which no rights have been exercised in the rights issue that Ebusco has announced today. This participation will reinforce Ebusco’s equity base. If there are insufficient shares left (because of a high take-up in the rights issue), Ebusco will propose a separate share issuance to Gotion at an upcoming General Meeting of Shareholders, further strengthening Ebusco’s balance sheet. Gotion will also be invited to propose representation on Ebusco’s supervisory board.
With Gotion as a strategic partner and future shareholder, Ebusco aims to strengthen its position as an innovative frontrunner in the rapidly expanding market of electric buses and associated ecosystems. Ebusco and Gotion share the mission of creating groundbreaking solutions, where innovation and growth go hand in hand for an emission-free world.
Further details of the proposed strategic partnership between Ebusco and Gotion
- Long-range battery
The first initiative under the proposed collaboration is to adopt Gotion’s new battery technology to provide the Ebusco 3.0 lightweight bus, which already had one of the market leading ranges, with a substantially larger range on a single charge. The Gotion battery technology fits within Ebusco’s focus on energy efficiency, sustainability and its commitment to safety and reliability.
2. International expansion: eye on Asia
Gotion will support Ebusco to explore the possibilities to introduce the lightweight Ebusco 3.0 buses to the markets in Asia with external bus manufacturers. With Gotion’s strong position and existing relationships in this region, the collaboration offers a unique opportunity for Ebusco to grow in this strategically important and rapidly developing Asian market. This collaboration is in line with its strategy to license out its Ebusco 3.0 lightweight technology outside the European market.
3. Inland shipping and sustainability: first ships on Ebusco’s energy solutions
Ebusco and Gotion will jointly explore further opportunities to grow Ebusco’s energy solutions. Ebusco and Gotion have already taken successful first steps in the field of maritime energy solutions with multiple mobile battery solutions implemented.