The Deutsche Post DHL Group sells the majority of its street scooter electric van division to the international company consortium ODIN Automotive in Luxembourg. The head of this consortium is the former BMW CFO Stefan Krause.
The sale includes the intellectual property for the vehicle models D17 and D20 as well as the two wholly owned subsidiaries in Switzerland and Japan, DHL announced on Tuesday. The Deutsche Post DHL Group will also become a minority owner of ODIN and will therefore remain involved in Streetscooter to a certain extent.
After his time at BMW, Krause (58) was the founder and CEO of the electric vehicle provider Canoo. He also joined the US electric start-up Faraday Future. However, neither manufacturer has yet developed a model that is ready for the market.
Post continues to hold part of the Streetscooter component production
With the acquisition of Streetscooter Engineering GmbH, Odin Automotive intends to act as a manufacturer of the electric transporter and continue to build both of the existing street scooter models.
Streetscooter GmbH, which remains in the Post Group and has 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 street scooters.
After the sale, this company will concentrate exclusively on the maintenance and care of the existing fleet.
Odin Automotive claims to be 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.