Ebusco appoints Erland Morelissen (former Van Hool) as CCO. Executive team has been reorganized

Ebusco has appointed Erland Morelissen (former Chief Commercial Officer Bus & Coach in Van Hool) as their new Chief Commercial Officer (CCO) and member of the Executive Team as of 12 August 2024.

The Dutch company is facing a though time on the stock exchange, as a result of its difficulties in manufacturing and delivering vehicles (that lead to a change of strategy with 3.0 models now assembled in China): its shares have today a value of 1.5 €, and witnessed a -82% decrease in the last 12 months. The loss compared to the time when the company went public (October 2021) is -93%, as Ebusco’s shares value at that time was around 23 euros.

Erland Morelissen becomes CCO at Ebusco

Over the last 12 months Ebusco has reshaped its Executive Team by welcoming six new members, including four external and two internal candidates. “With the appointment of Erland, the restructuring of the Executive Team has now been completed. Ebusco is confident that the broad range of knowledge and experience within the Executive Team will enable the company to make significant strides forward”, the Dutch company says.

In late June, Ebusco stated its current guidance of revenue in excess of €325 million combined with a positive EBITDA in 2024, released in March 2024, is no longer achievable. Ebusco achieved €102.4 million revenue in 2023, recording EBITDA loss of €95.7 million, compared to €34.8 million negative a year earlier, and net loss for the year of €120.1 million (vs €32.2 million in 2022).

Erland Morelissen has a longstanding track record in automotive sector, holding various international and senior commercial roles within the Volvo Group and most recently, Van Hool, where he held the position of CCO for nearly five years.

He holds a Bachelor International Management from the Amsterdam University of Applied Sciences.

Peter Bijvelds, Co-CEO of Ebusco added: “In recent years, besides my role as CEO, I have taken on the role of ad interim CCO. With a strong affinity for commerce, I am eager to work with Erland to further enhance Ebusco’s commercial success. The strong performance of the buses and the substantial order book create an excellent foundation for Erland to build upon in his new role. Ebusco’s market-leading products deserve the dedicated focus of an Executive Team member, and with Erland’s extensive experience in the bus industry, I am confident we will further strengthen Ebusco’s market position.”