e.GO Mover receives road approval and new investor

Next milestone for the revival of e.GO in Aachen: After declaring the e.GO-Life production ready for start in mid-December, the first People Mover by e.GO MOOVE GmbH received approval for public road traffic at the end of December. This confirmed the subsidiary's status as a vehicle manufacturer by the Federal Motor Transport Authority (KBA), according to the provider. Additionally, a new investor was welcomed: At the end of the year, Miltenyi Biotec B.V. & Co. KG from Bergisch Gladbach acquired the shares of ZF in e.GO MOOVE as part of the next financing round.

The Friedrichshafen-based company is to remain on board as a system partner and supplier for vehicle actuation. However, confidentiality was agreed upon regarding the purchase price and financing volume. Stefan Miltenyi, founder and CEO of Miltenyi Biotec, knows the challenges of the last mile from his employees who commute using public transportation at Miltenyi Biotec’s locations and is searching for innovative solutions.

“Both the People Mover and the Cargo Mover have great potential. We are very happy to participate in this sustainable development from NRW," said Miltenyi. 

This opens up the opportunity for further investors. “We are pleased that we can now enter into closer relationships with additional strategic partners and investors and continue the product development and series production preparation for the People Mover and the Cargo Mover,” said Prof. Dr. Günther Schuh, CEO of e.GO MOOVE GmbH. The first Cargo Mover version is planned to be presented to the public as early as spring 2021. The start of series production for the People Mover is scheduled for the end of 2021. The production start for the e.GO Life is expected to happen shortly.