GOVECS Takes Over Vectrix Plant

I can’t find this Press Release anywhere online, so I’ll repost this e-mail to the world on my humble blog. This is official.

GOVECS Takes Over Vectrix Plant

Munich, July 13, 2015. The assembly line of the US maxiscooter manufacturer Vectrix in Wroclaw, Poland, was set to produce the “smart e-scooter” by Daimler AG. This endeavor came to an abrupt end when Vectrix had to file for bankruptcy and subsequently the smart e-scooter never left the prototype phase. Now GOVECS is resurrecting the cutting-edge production plant. As part of an asset deal the company is taking over the complete machinery as well as the inventory of Vectrix and will be integrating them into their own 4,000 m² high-tech facilities in Breslau. The deal is both a strategic success as well as a necessary next step for GOVECS which is experiencing flourishing consumer business and B2B expansion in both Europe and the USA. The acquisition quadruples GOVECS production volume to more than 20,000 vehicles per year.

“GOVECS GmbH experiences massive growth in all business segments. When there is demand for an OEM partner to develop and produce exceptional and innovative electric vehicles we are first choice. Our sharing and renting business is growing as well. We are currently delivering e-scooters to the world’s largest free-floating provider, US-based Scoot Networks, within the framework of a major contract”, says Thomas Grübel, CEO of GOVECS GmbH. This development is extremely encouraging, however, it also involves high demands with respect to production and quality assurance. 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”.

Once the machine park is fully integrated, the production volume of GOVECS will quadruple to more than 20,000 vehicles per year. This is an important requirement  for being able to process a growing number of OEM projects in the future parallel to the production of the company’s own electric scooters for the delivery, sharing and consumer segments.

Thomas Grübel is convinced: “We are only at the beginning of a rapidly increasing demand for innovative e-mobility concepts. With the strategic acquisition of Vectrix and the production possibilities arising from we are ideally prepared for this development and thus in a position to respond to the market demand for high-quality vehicles `Made in Europe` even more quickly in the future.“

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