Connect Bus has encountered continuous delivery delays from Ebusco and will be switching electric bus suppliers while pursuing financial compensation for the setbacks.
Ebusco's recent financial reports indicate a severe downturn, highlighting an EBITDA loss of €60.7 million in 2024 and significant delivery failures, raising insolvency concerns.
Following several leadership changes, including the appointment of a new CEO, Ebusco is now shifting its manufacturing strategy toward assembly in China to resolve ongoing issues.
With a drastic decline of 96% in share value since its public offering, Ebusco appears to be struggling significantly, delivering only 98 buses against a backlog of 1,662.
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