The Swedish charging operator, Eways, which went bankrupt shortly before the New Year with a three-digit million debt, is reborn with new owners, the company writes.
The charging operator Eways, which went bankrupt shortly before Christmas with a debt of more than 100 million kroner, is now resurfacing with a new owner.
Eways, which sold electric vehicle charging products and services, left behind significant debt to both customers and the tax authorities. The bankruptcy came after a period of financial difficulties, during which a restructuring plan was rejected by the Attunda City Court.
Now, the wholesale company KGK (KG Knutsson AB), which is active in the automotive industry, has purchased Eways' assets and operations from the bankruptcy estate.
Initially, the Swedish legal system rejected a reconstruction of the company on the grounds that Eways had lower revenue than expected, unrealistic future forecasts and a lack of investors.
KGK sees the acquisition of the charging operator as a strategic investment in a future with electric vehicles. The company has been investing in charging infrastructure since 2015 and expects continued growth in this sector.
"We at KGK are convinced that electric cars will be a big part of the future, and therefore an expanded and well-functioning charging infrastructure is crucial," says Johan Regefalk, CEO of KGK, in a press release .
The acquisition of Eways gives KGK access to an established network and customer base within charging infrastructure. It is still unclear what concrete plans KGK has for Eways' future operations and how they will handle the debt that caused the bankruptcy.
Shortly before the bankruptcy, it emerged that Eways had unjustifiably kept customers' money. At the same time, the collapse threw more than 600 housing associations that had the company's charging stations into the dark of uncertainty.
Around the same time as the first bankruptcy in December, it was also revealed that Eways' then director had used some of the money in the company to pay his own debts in other companies.
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The bankruptcy and rescue of Eways is far from the first of its kind in the automotive industry recently. However, not all companies are as 'lucky'.
Last year, Boosted reported that Fisker Inc. was reportedly in talks with Nissan. However, the Japanese company ultimately backed out. Today, Fisker, founded by Danish car designer Henrik Fisker, is closing down after a ruling in the US bankruptcy court.
Boosted has also reported how the car brand's Nordic subsidiaries have long since gone bankrupt. The Danish headquarters in Fisker Center+ Copenhagen already turned the key in May 2024.
