Acquisition
Deutsche Post DHL sells StreetScooter rights to ODIN Automotive consortium
The logistics company Deutsche Post DHL Group is selling the rights and know-how for the production of its StreetScooter electric vans to the international consortium ODIN Automotive S.à.r.l. (Luxembourg).
The sale includes the intellectual property for the D17 and D20 vehicle models as well as the two wholly-owned subsidiaries in Switzerland and Japan. In addition, Deutsche Post DHL Group will become a minority owner of ODIN.
With the acquisition of StreetScooter Engineering GmbH, ODIN Automotive S.à.r.l. will act as the manufacturer of the electric vans and continue to build both StreetScooter models (with 8 and 13m3 of cargo space). StreetScooter GmbH, which will remain within the Group with its existing 300 employees, will continue to act as a supplier of vehicle parts and batteries for the Group's planned expansion of the fleet to 21,500 StreetScooters. This company will then concentrate exclusively on the maintenance and servicing of the existing fleet. The Group currently deploys more than 17,000 of the electric vans developed for letter and parcel delivery over the last mile, making it the operator of the largest e-fleet in Europe.
ODIN Automotive S.à.r.l. is a financial holding company backed by several institutional and private global investment partners, including Sparta Capital Management in the UK, a major Chinese OEM and a contract manufacturing partner in North America.
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