Deutsche Post DHL Group may sell StreetScooter

The Deutsche Post DHL Group may be looking to sell its StreetScooter subsidiary, according to comments made by CEO Frank Appel at the Wirtschaftspresseclub in Stuttgart.

Appel said that the Group is open to the possibility not only of co-operation with other car companies, but also initial public offerings or new investors—and it is unlikely they will keep the company.

“But we are in no hurry, we will not get rid of it at any cost,” Appel said.

Deutsche Post DHL Group currently has around 9,000 vehicles in operation. Third party customers include UK groceries company Milk & More, who bought 200 vehicles in 2018, and Japanese logistics company Yamato Transport, who purchased 500 scooters earlier this year.

StreetScooter was approved by the German transport authority for large series production in December.

Jörg Summer took over from Achim Kampker as CEO of the company in April, to focus the business on growth and production, while Kampker became CIO, overseeing its technological developments.

Source: Handelsblatt