FOLLOWING the 100 percent buy-out last year by a private investor who already had a shareholding, Munich based electric vehicle manufacturer GOVECS has bought the assembly line of bankrupt American E-scooter manufacturer Vectrix.
Based at Wroclaw (Breslau), Poland, the production line had been set up to produce the "smart e-scooter" for Daimler AG. Following the difficulties encountered by Vectrix that project never got past the prototype phase, but now GOVECS says it is resurrecting the "cutting-edge" production plant and that as part of an asset deal it is taking over the complete machinery as well as the inventory of Vectrix, and that they will be integrating them into their own 4,000 sqm high-tech facilities there.
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| CEO Thomas Gruebel says the acquisition will be "both a strategic success as well as a necessary next step for GOVECS GmbH ... this is a major step in our international expansion strategy" |
GOVECS was founded in 2009 by CEO Thomas Gruebel, who is also President of GOVECS Poland Sp.z o.o., VP Operations Nicholas Holdcraft and Gerald Vollnhals. The company says that the deal is "both a strategic success as well as a necessary next step for GOVECS GmbH, which is experiencing flourishing consumer business and B2B expansion in both Europe and the USA. The acquisition quadruples our production volume to more than 20,000 vehicles a year".
Gruebel said that "by combining our production facilities with the machine park of Vectrix, we will achieve the maximum of production possibilities. This is a major step in our international expansion strategy".
GOVECS are targeting further growth in its e-vehicle OE contract manufacturing business with the cache of high quality "Made in Europe" manufacturing likely to become increasingly important to the customers it will seek to work for in the years ahead, as well as targeting further expansion of its own brand e-scooter programmes.
In 2013 GOVECS won the "European e-scooter of the year "award for the third consecutive time.
www.govecs.com
