6/11/2019, 8:37 AM (Source: TeleTrader)
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Deutsche Post won't list StreetScooter – report

Deutsche Post AG is taking its time with plans for divesting of its electric delivery van unit, Die Welt reported on Tuesday after learning that bids are far below what was invested since it was taken over in 2014. StreetScooter GmbH won't be taken public either as such a possibility isn't being discussed anymore, according to the article.

The startup based in Aachen has apparently built nine thousand vehicles, mostly for Deutsche Post DHL Group, and the capacity has been boosted to 20,000 per year at a starting price of €35,000 apiece, the daily wrote. Co-founder and entrepreneur Guenther Schuh offered €300 million, a recent leak to the media revealed.

Several of the yellow vans caught fire in the past months, which was blamed on a defective weld in the battery, while putting it out was made difficult by corrosive hydrofluoric acid cited by firefighters. Reportedly, batteries needed to be replaced with more expensive models and there were engine failures and other glitches but there is no willingness to increase expenses.

Baha Breaking News (BBN) / IT