Ebusco expects positive EBITDA in 2024

The Dutch company is facing a though time on the stock exchange: its shares have today a value of 5.02 €, and witnessed a -63% decrease in the last 12 months. The loss compared to the time when the company went public (October 2021) is -77%, as Ebusco’s shares value at that time was around 23 euros.

In June 2023 Ebusco said that supply chain issues and labour shortages were still affecting the business, and the Dutch group was pushing to accelerate the scale-up of its production capacity with the help of three assembly partners in Europe and abroad.

Ebusco expects revenue to be in excess of EUR 300m for the full year 2024. And expects to achieve a positive EBITDA for the full year 2024. In the first half of 2023, according to CME Chatrou Solutions data, Ebusco had registered 121 e-buses.

As of the first quarter of 2024, “Ebusco will implement cost measures that have been developed in recent months to lower its indirect cost base and bring the direct cost base in line with the adapted assembly strategy”, the OEM says.

To cover the working capital need in relation to the 2024 guidance, Ebusco is launching an accelerated bookbuild offering and concurrent convertible bond private placement. Ebusco will convene an extraordinary general meeting on 29 January 2024 to request the required shareholder approvals. 

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The Dutch company is facing a though time on the stock exchange: its shares have today (12th October) a value of 5.29 €, and witnessed a -65% decrease in the last 12 months (it was 15 euros in October 2022). The loss compared to the time when the company went public (October 2021) is -77%, as Ebusco’s shares value at that time was around 23 euros.

In June 2023 Ebusco said that supply chain issues and labour shortages were still affecting the business, and the Dutch group was pushing to accelerate the scale-up of its production capacity with the help of three assembly partners in Europe and abroad.

Ebusco now works with assembly partners

Now Ebusco announces that “good progress was made with the first cascos assembled at our casco assembly partner. On the bus assembly side, the first Ebusco 3.0 buses have been successfully manufactured and the first shipments of Ebusco 3.0 buses are expected in November“. The name and location of the partner remains unknown (the only info is that it is an “international” assembly partner.

This year Ebusco secured a two-year financing facility of €41.5 million, in addition to its already existing bank guarantee credit facility of €50 million. The financing facility of €41.5 million is undrawn and management has implemented several cost savings and working capital improvement projects.

During the third quarter, Ebusco says it has gained new orders for 54 buses. Recently Ebusco and Deutsche Bahn extended their partnership for delivery of electric buses until 2026.

Peter Bijvelds, founder and CEO: “Following the announcements at the half year results, we have made strong progress with implementing our adjusted manufacturing strategy and good progress in optimising our day-to-day operation in the Netherlands, while navigating a challenging landscape. We are pleased to report that we have successfully expanded our 3.0 production capacity. This includes both the scaling of 3.0 casco production in Deurne and the start of production with international assembly partners. It is encouraging to see that our assembly partners have swiftly started the Ebusco 3.0 bus assembly and we can confirm that the first shipments are expected in the fourth quarter of this year. The delivery of Ebusco 3.0 buses to Transdev has continued at a steady pace during the quarter. In addition, we are currently in the vehicle acceptance phase with two customers, who will start operations with the Ebusco 3.0 in the fourth quarter of this year. The operational performance of the Ebusco 3.0 exceeds our and our clients’ expectations”.

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Jurjen Jongma succeeds Björn Krook, who temporarily fulfilled the position of CFO over the past months. Krook will move back into his role as Investor Relations Manager.

Ebusco has communicated in late July that supply chain issues and labour shortages are still affecting the group’s business. The intention to move towards a production model that involves assembly partners was already announced in March 2023.

Ebusco appoints Jurjen Jongma as CFO

After today’s meeting, Jurjen Jongma (1971) assumed the role of Chief Financial Officer (CFO) with immediate effect, Ebusco says. Before joining Ebusco, Jongma (1971) was CFO at Versuni, formerly known as Philips Domestic Appliances. Prior to that, he held financial positions within Royal Philips for over 25 years, including in the role of CFO for various Philips business units, as well as Head of Internal Audit for Royal Philips.

Jurjen Jongma explains: “I’ve got to know Ebusco as a dynamic company that’s proactively and effectively driving the positive changes needed for our society’s battle against climate change. While I acknowledge the challenges we face as a company, I hold a strong belief in our product and am absolutely certain that Ebusco has a bright path ahead. Being part of that is something I am positively looking forward to!”

Peter Bijvelds, CEO of Ebusco, says: “Over the past weeks, we’ve witnessed the immense financial, operational and strategic expertise that Jurjen brings to the team. Having him join us as our new CFO is something we’re very much looking forward to. I’m confident his experience will be indispensable during Ebusco’s next growth phase, in which we are firmly committed to scaling our production capacity internationally.”

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SWM has ordered the low-floor articulated buses with a particularly large battery pack (>500 kWh) for MVG.

Ebusco to deliver buses in Munich (again)

The buses are expected to cover some 60,000 km per year, good for savings of at least 55,000 kilograms of CO2 and more than 90,000 grams of nitrogen per bus annually. The Ebusco buses are a familiar sight on the streets of Munich. SWM not only has Ebusco 2.2 buses in operation (with a last order received in early 2022), but the Ebusco 3.0 also experienced its world premiere in the Bavarian capital.

Meanwhile, the first Ebusco 3.0 has been running for over a year and a half on line 100 in Munich’s city centre. There, the energy consumption of the 3.0 12-metre proves to be over 30 per cent lower compared to its predecessor (Ebusco 2.2).

Peter Bijvelds, CEO of Ebusco, comments: “We are immensely proud of the trust shown by this order. The first Ebusco buses have already been on the road in Munich since 2017. In the past years, we have worked closely with SWM as an innovation partner, for example for the development of our lightweight construction and prototyping of platooning buses. The fact that SWM has now chosen the Ebusco 3.0 again proves that we are on the right track.”

Ingo Wortmann, MVG-Chef, adds: “Besides their innovative character, the Ebusco 3.0 vehicles are very reliable and especially economical. We are looking forward to adding 28 more 18-metre buses to our fleet and, among other things, making public transport in Munich even more sustainable.”

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It is not the first time for SWEG to take Ebusco buses on the road. In January 2022, the German transport company already placed an order for 10 Ebusco 2.2 12-metre buses, the first of which are now in operation. These are low-floor buses, equipped with two doors and an extended battery pack (>400 kWh).

Ebusco 2.2 e-buses for SWEG

Südwestdeutsche Landesverkehrs GmbH (SWEG) is a public transport company in southwest Germany. Together with its subsidiaries, it operates a fleet of around 470 buses. The company plans to deploy the buses in the Baden-Württemberg region. The buses are expected to drive around 60,000 km per year, saving roughly 55,000 kilograms of CO2 and over 90,000 grams of nitrogen per bus on an annual basis, according to the OEM’s calculations.

Ebusco zero-emission buses for SWEG

Wolfgang Hackauf, Sales Director at Ebusco, comments: “We are very proud that SWEG has once again chosen Ebusco. The Ebusco 2.2 is a hugely reliable and energy-efficient bus, making it a good choice. We, therefore, look forward to continuing our cooperation with SWEG and continuing our journey towards zero emissions together.”

Thilo Grabo, Managing Director at SWEG, commented, “After our first experiences with the Ebusco 2.2, we are particularly impressed by the long range of the vehicle. We are very pleased to further expand the use of electric mobility in our bus operations with this contract and thus make our fleet even more environmentally friendly”.

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Delivery of the first 50 buses (model Ebusco 3.0) is scheduled for 2024 and the 75 buses are under option for delivery in 2025. Keolis Sverige has won the E42 tender in and around Stockholm (Bromma, Solna, Sundbyberg and Sollentuna).

Keolis orders Ebusco 3.0 buses for Stockholm

The Ebusco 3.0 12-metre buses ordered by Keolis will be equipped with a >350 kWh battery pack. In Sweden, Keolis’ operations include Stockholm, where nearly 800,000 people travel by public transport every day. Keolis is also active in Västra Götaland, Uppland, Värmland, Dalarna and Skåne. To keep these operations running, Keolis employs nearly 5,000 people.

Karl Orton, Fleet Director at Keolis comments: “Ebusco’s innovative bus fits perfectly with our ambition to reduce our climate and environmental footprint and the Ebusco 3.0 has proven to be the obvious choice on our road to zero emission.”

Jonas Helsner, Sales Director Nordics at Ebusco, comments: “It is exciting that we have secured a substantial order for such a large city like Stockholm. This is the first order for Keolis in Sweden, after we previously scored an order for the Nordics with Keolis in Denmark. Since not everything in Stockholm is within walking distance, a well-functioning public transport system is indispensable. We are delighted that we are expanding together with Keolis and our innovative Ebusco 3.0 can soon be seen in the Swedish capital city.”

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The Ebusco 3.0 buses will be delivered in phases. Due to issues in the supply chain, the buses had been waiting for the final parts since the end of last year, the manufacturer says. Indeed, delivery of this fleet was initially planned for spring 2022.

Ebusco 3.0 ready for Transdev

The Ebusco 3.0 stands out for having batteries integrated into the floor. The very first (and – so far – only) Ebusco 3.0 bus has already been running for over a year and a half on line 100 in downtown Munich. In practice, the energy consumption of this bus already proved to be over 30 per cent lower compared to its predecessor (the Ebusco 2.2).

At Transdev, the Ebusco 3.0 buses will travel an average of about 110,000 kilometers a year. As a result, over the total contract period, more than 30 million kg of CO2 will be saved, according to Ebusco’s calculations.

The “delivery of the first buses from serial production, therefore, marks an important tipping point in Ebusco’s ramp-up. In the medium term, the company is targeting a production capacity of 3,000 buses a year”, still from Ebusco’s press note.

First Ebusco 3.0 from series production

Manu Lageirse, CEO at Transdev Nederland, comments: “With the Ebusco 2.2 buses, we already save around 15 million kilograms of CO2 every year. We are very proud to take another big step forward in our sustainability strategy by adding the Ebusco 3.0 to our fleet. We have already tested the Ebusco 3.0 extensively and are delighted to finally welcome our passengers in this sustainable bus.”

Bob Fleuren, COO at Ebusco, explains: “We are thrilled to deliver the first buses from serial production in the Netherlands. Besides the usual learning curve when starting a new production line, in particular issues in the supply chain caused the completion of the buses to take longer than expected. However, our team has worked extremely hard over the past few months and we are therefore proud that Transdev can now hit the road with the first Ebusco 3.0 bus. With this first series, a solid foundation has been established for our continued ramp-up, so we expect to make considerable progress in the next few months.”

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These are the ingredients of MINGA project, with preparations underway in Munich. Stadtwerke München (SWM) with Münchner Verkehrsgesellschaft (MVG) is a partner in the project. The preparation with the technical set-up and the clarification of regulatory aspects for the operation of these autonomous services is planned within 2024. Trial operations will start in the course of 2025, and approval for passenger use is targeted by the end of the project period.

MVG and MINGA project: automated vehicles for public transport

MVG and partners in the MINGA project are developing automated vehicles for local public transport.
Together, the partners in the MINGA funding project have set themselves the goal of further developing local public transport. In the project duration of 34 months until the end of 2025, the focus is on the automation of on-demand vehicles and buses. The research project is being funded by the Federal Ministry of Digital Affairs and Transport (BMDV) with around 13 million euros as part of the funding guideline “Autonomous and Connected Driving in Public Transport”.

Teams from research and development, the municipality and the operating company are working together for a holistic investigation from planning to approval and set-up to implementation. The operating area where the vehicles will be tested should offer various traffic challenges and be well connected to a depot.

Ride pooling vehicles still to be tendered

Together with the mobility department of the City of Munich and the DB subsidiary ioki, which offers software solutions for public transport, SWM and MVG are setting up a ride pooling system with three to five automated vehicles in on-demand operation. The procurement of the vehicles for automated on-demand operation in mixed traffic will be put out to public tender in the project.

Michael Barillère-Scholz, co-founder and managing director of the DB technology company ioki: “Autonomous ridepooling is one of the key concepts on the way to a demand-oriented and thus attractive public transport system. In the MINGA project, we will contribute our experience in routing and pooling in local transport as well as our ioki platform and further develop them in close cooperation with the partners. The findings from the project can make a decisive contribution to sustainably influencing local public transport in Germany.”

The preparation of the driving operation is planned in several phases. First, a trial operation without passengers with safety drivers will take place and in the final phase, test runs with passengers under technical supervision are planned in coordination with the licensing authorities.

In addition to the technical implementation, the study will also provide data on driving performance and maintenance in order to be able to optimise processes. In addition, concrete proposals for the design of technical supervision of autonomous vehicles in local public transport will be developed. In this context, a guideline for the industry is also to be developed.

MAN automated bus will be in operation…

SWM is also working with researchers from the University of Stuttgart, the Karlsruhe Institute of Technology (KIT) and the FZI Research Centre for Information Technology as well as the mobility department of the City of Munich to test various systems for scheduled operation with automated buses.

A 12-metre-long electric bus is being equipped with a Self Driving System (SDS) in cooperation with the manufacturer MAN Truck & Bus.

Barbaros Oktay, Head of Bus at MAN Truck & Bus: “Sustainability is a central component of MAN’s corporate strategy. That is why, on the one hand, we are consistently converting our products to electric drives. On the other hand, we are pushing ahead with automation and digitalisation. The MINGA project is an important step for us on the way to the mobility turnaround.”

…with Ebusco in charge of bus platoons

The manufacturer Ebusco is a partner in the project for the development of two bus platoons. This involves forming a formation of two buses connected by a virtual drawbar. The rear bus automatically follows the first vehicle. This makes it possible to offer high-capacity opportunities in bus transport, which can then also replace diesel-powered buses with trailers, still used in Munich.

Wolfgang Hackauf, Sales Director Germany at Ebusco: “Founded ten years ago with the firm conviction that the future belongs to electric transport, innovation is in our DNA. Already years ago, we delivered our first electric buses to SWM, which are still on the road in the city of Munich today. We are proud to now jointly take the next leap into the future of electric driving as part of the MINGA project. We believe that platooning will be another step towards flexibility, efficiency and cost reduction and look forward to further testing these ‘bus platoons’ on German roads with our innovative and lightweight Ebusco 3.0.”

MVG view on the future of public transport

Ingo Wortmann, SWM Managing Director Mobility and MVG CEO: “We are proud to be able to advance the automation of public transport as a partner in the MINGA project and to set standards for the industry. In this way, we are making public transport more attractive for our passengers and creating the basis for further automation and for flexible new services. Our activities for MINGA are thus also an essential building block for our corporate strategy, with which we will make public transport in Munich fit for the future. We can thus establish an on-demand service that complements the underground, bus and tram in the best possible way. MVG is prepared for this – we have already integrated appropriate workstations for this in our new control centre. Another essential aspect is a medium-term replacement for our high-capacity, diesel-powered buses with trailers, which are difficult to electrify in this form, in order to be able to operate our bus fleet completely electrically by 2035. This is possible with two virtually connected solo buses, the so-called bus platoons. A third important sub-project involves an automated solo bus that can operate driverless in the future. Overall, MINGA is another important step for us towards the public transport of the future.”

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The balance sheet total decreased from €332.7 million as at 31 December 2021 to €320.6 million as at 31 December 2022.

To create flexibility, Ebusco has started discussions with a European third-party bus assembly partner. By outsourcing part of the assembly activities, Ebusco aims to enhance capacity and support the ramp up in Deurne.

Ebusco sees “4,744 buses in tenders in our markets which are expected to come to market in the next 12-24 months“.

The Dutch company has the goal of reaching a production volume of “over 3,000 zero emission buses per year within the next five years”. Quite a striking goal, considering that last year a total of 78 Ebusco e-buses were registered in Europe according to Chatrou CME Solutions figures on the European electric bus market 2022. Ebusco also expects to reach an EBITDA margin of 20-25% within the next five years compared to 35% previously.

Ebusco financial results 2022

Ebusco ended 2022 with an order book of 1,474 buses compared to 325 at the year end 2021. In total, Ebusco received orders (fixed contracts, call-off and options) for 1,225 buses in 2022 (2021: 240 buses), of which 336 Ebusco 3.0 buses. The lightweight features of the Ebusco 3.0 and the resulting lower energy consumption continue to be the main differentiator versus our competition.

The Dutch company says, in the press note accompanying the announcement of financial results 2022: “In 2022 Ebusco has made the next steps in executing its ramp-up plan. Early in the fourth quarter of 2022, Ebusco reached the capacity of one casco per day for the first time, quickly followed by three buses per week in that same quarter. It should be noted that parts availability has had an impact on the ramp up; the installation of missing parts post-assembly is creating additional work, inefficiency and delayed start of follow-on projects. Regardless of these setbacks, Ebusco continued its efforts to meet the forecasted ramp-up. Late in the first quarter of 2023 Ebusco successfully moved its pre-delivery inspection activities to a new location in Venray. This enabled the establishment of a dedicated fit for growth casco facility in Deurne and three assembly lines for the Ebusco 3.0 at the same location”.

To catch up on the delayed delivery of certain parts, Ebusco continues, “two of these lines are temporarily being used for installation of missing parts post-assembly. As of the first week of 2023 our bus assembly line and certain parts of our casco team are working in a two-shift operation. Reaching a capacity of one bus per day and further growing towards a capacity of two buses per day is expected in the course of the second quarter of this year. Due to the tense labor market attracting skilled and sufficient personnel is the main requirement for reaching the two buses a day milestone”.

Although we can be proud of many milestones, it’s equally true that we are facing ongoing geopolitical uncertainty and global supply chain constraints, impacting the number of buses assembled, shipped and delivered. In relation to the Ebusco 3.0, parts availability has triggered production inefficiencies as buses had to be moved in and out of the production line. For the Ebusco 2.2, high transport prices had a pressing effect on our profitability as did the resurgence of COVID-19 in China, forcing us to move part of our shipments from 2022 to 2023. Next, attracting skilled personnel is a challenge.

Peter Bijvelds, founder and CEO, Ebusco

Ebusco activities in France (Rouen) speeds up

In February of 2023, the lease contract for the former Renault facility in Rouen was formalized, company says. The refurbishment and start up plans are on schedule with the hand-over to Ebusco expected to take place in the third quarter of 2023.

Installation of the already procured tooling and equipment and start of the ramp-up of casco production will take place in the remainder of the year. The first people have been hired and a detailed training plan for these new employees has been developed. In the course of 2024, the Rouen facility will have a capacity of two casco’s per day, according to Ebusco’s statement.

Focus on gross profit margins

Gross profit as percentage of revenue increased from 5.0% in 2021 to 14.0% in 2022. Adjusted for a one-off item in 2021, the gross profit margin decreased from 21.3% to 14.0% in 2022.

Ebusco had originally expected gross margin to be higher in the second half of 2022 compared to the first half of 2022. However this expectation did not mature due to, in Ebusco’s words:

1. Higher start up production cost and use of proto parts to get first Ebusco 3.0 on the road
2. Negative mix effect due to the delayed shipment and delivery of Ebusco 2.2
3. Additional design cost on the BVG order
4. Higher raw material prices due to inflation

“Adjusted for these items, gross margin would be well north of 20%. The expected gross margin in the current order book is well above the adjusted of 2022”.

Ebusco financial results 2022: focus on the workforce

The average number of full-time employees (including contractors) increased by 96% from 227 FTEs in 2021 to 446 FTEs in 2022 (607 FTEs as per year-end 2022). In the second half of 2022, “the increase in indirect labor cost has slowed down as we approached a level of maturity required for further growth. The increase in direct labor is likely to continue as we ramp up the production of the Ebusco 3.0 buses. The combination of ramping up production, an inflow of new employees that go through the learning curve and the impact of parts availability on production have resulted in a significant inefficiency in direct labor”.

EBITDA came in at a negative €34.8 million 

In the 2022 financial year EBITDA came in at a negative €34.8 million compared to a negative EBITDA of €34.2 million in 2021. The 2021 EBITDA includes several one-off costs for a total amount of €13.7 million which led to an underlying EBITDA of negative €20.5 million, Ebusco states.

The manufacturer adds: “The result for the year decreased from a loss of €26.8 million in 2021 to a loss of €32.2 million in 2022. Earnings per share changed from a loss of €0.56 per share in 2021 to a loss of €0.54 per share in 2022. The average number of shares outstanding in 2022 amounted to 59,039,380 (2021: 47,502,302). At year end 2022 the outstanding number of shares was 59,039,380”.

Capital expenditure “increased from €5.0 million in 2021 to €9.7 million in 2022 and included investments in equipment related to the set-up of the blueprint facility in Deurne and investments in the transportation of demo and prototype buses, respectively”. In relation to the production ramp up, Ebusco expects capital expenditure of € 10-15 million in 2023.

Ebusco priorities for 2023

Based on the current production and delivery planning, order book and ongoing tender activity, Ebusco management expects another sharp increase in revenue, an improvement in the gross margin and a positive EBITDA.

Ebusco’s 2023 outlook looks like the following: “Revenue to increase sharply again with 550-600 buses contributing to revenue, improvement in gross margin and positive EBITDA for the full year, weighted towards the 2H23, ongoing growth of the order book based on current tender pipeline, capital expenditure of €10-15 million focused on future growth”.

Peter Bijvelds statements on Ebusco 2022 results

Peter Bijvelds, founder and CEO at Ebusco, states: “As indicated in our full-year update on February 14th, 2022 has been a year of recovery and expansion for Ebusco. The year resulted in a sharp increase of revenue of 360% and strong growth of our order book which ended the year at 1,474 buses compared to 325 at year end 2021. This growth was mainly driven by the Deutsche Bahn framework and the commercial success of both the 12m and 18m Ebusco 3.0.

Much of our growth can be explained by our people. We already learned early on that we have to be more efficient, smarter and different to outweigh the competition. Innovation is in the DNA of our people. Evidence of this includes the launch of the Ebusco 3.0 18-meter only a year after the first 3.0 was delivered, already resulting in 184 buses in order. It is a clear example of the non-hierarchical and decisive culture we have been able to foster. While the release of the 18-meter bus in 2022 may be the most telling example, the entrepreneurial culture is deeply rooted in our company. 10 years of experience allow us to make daily decisions based on real-road data, ensuring our solutions are well aligned with reality. 

Although we can be proud of many milestones, it’s equally true that we are facing ongoing geopolitical uncertainty and global supply chain constraints, impacting the number of buses assembled, shipped and delivered. In relation to the Ebusco 3.0, parts availability has triggered production inefficiencies as buses had to be moved in and out of the production line. For the Ebusco 2.2, high transport prices had a pressing effect on our profitability as did the resurgence of COVID-19 in China, forcing us to move part of our shipments from 2022 to 2023. Next, attracting skilled personnel is a challenge.
 
The market for zero emission buses continues to grow and our objective remains to produce 3,000 buses with the aim to reach this in the next five years. Given the supply chain disruptions and inflation we however feel it is more prudent at this point to lower our profitability goals to an EBITDA margin of 20-25% to be reached in the next five years”
 
I would like to thank the entire Ebusco family, our clients, partners, shareholders and Supervisory Board for their ongoing support to achieve our vision ‘to drive the transition to sustainable transport.’ Not only in 2022, but throughout a decade of Ebusco. Focus for 2023 is to grow production capacity, further optimise our supply chains, improving gross margin and operational efficiencies while keeping our innovation-based commercial momentum”.

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In the concession, Qbuzz has a fleet of around 400 buses, which will now partially be replaced by up to 63 Ebusco 3.0 buses. 60 Ebusco 2.2 buses are already in operation for the operator, owned by the Italian railway company FS (20 vehicles were delivered in 2020 in Utrecht).

Ebusco 3.0 buses for Qbuzz in Groningen and Drenthe

Qbuzz will deploy the buses on behalf of OV-bureau Groningen-Drenthe in the provinces of Groningen and Drenthe. The 12-meter buses will mainly be used for regional transport, while the 18-meter buses will operate under the Q-link flag on lines 5 and 6 nearby the city of Groningen, Ebusco says.

Both variants of the Ebusco 3.0 for Qbuzz will be equipped with an extra-large battery pack (>500kWh), which is unique for the 12-meter variant.

Ebusco states it has been working with Qbuzz for several years now and has already provided the operator with circa 130 electric buses. Under the Qbuzz umbrella, the Ebusco 2.2 buses are already operating in the cities of Utrecht, Groningen and Dordrecht, amongst others.

Ebusco buses for Qbuzz

Steven van der Burg, Sales Director at Ebusco, explains: “We are extremely proud that Qbuzz has once again chosen Ebusco. In recent years, we have already delivered more than 100 electric buses to Qbuzz. The fact that Qbuzz selected us again after the success of the Ebusco 2.2, is proof that with the Ebusco 3.0 we have taken the right path to take emission-free public transport to an even higher level. We thus look forward to continuing our cooperation with Qbuzz to continue our road to zero emission.”

Dirk Huzeling, Creative Bid Manager at Qbuzz, responds: “Over the past few years, we have already experienced the success of the Ebusco buses on the road. With the Ebusco 2.2 buses we already drive between 350 and 375 electric kilometers per day, while recharging at our depots from time to time. We are very pleased to now also add the Ebusco 3.0 to our fleet and are confident that this lightweight bus will deliver an even better range in combination with the large battery pack. This will allow us to increase the sustainability of public transport in the provinces of Drenthe and Groningen to a greater extent”.

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