30 million euros fresh capital secured for production

February 25, 2021, 7:04 pm

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The Aachen-based electric car manufacturer E-Go has averted its bankruptcy. Under the name Next E-Go Mobile SE, the company has secured 30 million euros. They should finance the start of production.

Last year it looked bleak for E-Go Mobile. Only the takeover of the majority of the company shares by the Dutch equity investment company ND Industrial Investments BV saved the former model company of German electromobility from bankruptcy.

International investors join the Next E-Go

In the current year, with a partially renewed management team, production of the small electric vehicle E-Go Life is to be resumed. To this end, Next E-Go has closed a Series B financing round of over 30 million euros. This is supposed to secure the start of production and the planned growth financially.

The financing round attracted international investors, including Moore Strategic Ventures, former US Treasury Secretary John Snow, the founder and chairman of Formula E Alejandro Agag and US actor Edward Norton, who is the co-founder of several technology companies such as Crowdrise and Edo.

E-Go Life will roll off the assembly line again in June

The resumption of production of the four-seater E-Go Life introduced in 2019 at the Aachen plant is planned for June 2021. The employees are to be gradually removed from short-time work. The resumed production will initially focus on the E-Go Life Next special edition. The edition, limited to 1,000 copies, costs 22,990 euros. The manufacturer has already deducted its share of 3,000 euros in the environmental bonus from this price.

“We are very grateful for the continued enthusiasm, commitment and patience of our customers and fans and are happy to finally be able to take orders again,” said Günther Schuh, E-Go founder and Chairman of the Board of Next E-Go Mobile SE.

The special edition E-Go Life Next is to be delivered from July 2021. The model with a motor output of up to 57 kW is carried by a battery with 21.5 kilowatt hours of energy for up to 132 WLTP kilometers.

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