“Weakening economy”: The next German electric car manufacturer files for bankruptcy. Electric Brands is the developer and future manufacturer of the XBus electric van and the Evetta small car.
The company cited “the recent increase in development costs and the weakening economy’ as the reason for the move. More than 1.2 million euros were collected for the development of the electric XBus through crowdfunding. Since crowdfunding is treated secondary in the event of bankruptcy, the crowdfunders could lose their money if no new investor can be found.