{"id":35777,"date":"2025-04-16T13:07:16","date_gmt":"2025-04-16T11:07:16","guid":{"rendered":"https:\/\/www.sustainable-bus.com\/?p=35777"},"modified":"2025-04-16T13:07:19","modified_gmt":"2025-04-16T11:07:19","slug":"dancer-bus-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.sustainable-bus.com\/news\/dancer-bus-bankruptcy\/","title":{"rendered":"The last dance: Dancer Bus is bankrupt"},"content":{"rendered":"\n

Do you remember Dancer Bus<\/a><\/strong>? The Lithuanian Oem (V\u0117jo projektai consortium) had landed on the market in 2018 with a revolutionary bus: transparent and wind-powered. Then, in 2023, at Busworld in Brussels, it was back to make headlines with another very special vehicle<\/a>: a 12-meter electric, with an unladen weight of just 8.6 tons, thanks to a strong and lightweight composite body made from plastic also collected in the oceans.<\/p>\n\n\n\n

Lo and behold, unfortunately, the Lithuanian Oem has declared bankruptcy<\/strong>. The official announcement came on Linkedin, with a post by founder Alvydas Naujekas<\/strong><\/a>. A lightning bolt out of the blue? Almost, since from Busworld 2023 2023 to date there had been no particular news, neither of new products, nor of orders and deliveries from Dancer Bus, despite the company’s proclamations and plans, such as the construction of a new factory that would allow the assembly of more than 500 pieces per year.<\/p>\n\n\n\n

\"dancer<\/figure>\n\n\n\n

Why Dancer Bus is bankrupt?<\/h2>\n\n\n\n

The pandemic hit Dancer Bus hard<\/strong>, and a key step came in 2022, when – as reported by the Ukrainian media ain<\/em><\/a> – the company turned to the investment fund NuCapital for a 1.8 million euro loan; a loan granted until July 2025 and obtained by pledging the factory as collateral.<\/strong><\/p>\n\n\n\n

According to what Naujekas wrote, it was NuCapital that caused Dancer Bus to go bankrupt<\/strong>. The fund, however, returned the accusations to the sender, saying it was simply working to recover the loaned capital.<\/p>\n\n\n\n

The following are the words of the founder of Dancer Bus:<\/p>\n\n\n\n

After more than a year of fighting in the courts to settle our liabilities, we must recognize the victory of our opponents and initiate the bankruptcy proceedings of the Dancer Group.
First of all, I would like to express my sincere gratitude to the founders, shareholders, scientists and all employees who believed in this idea many years ago. Their dedication, commitment and hard work provided a solid foundation for the launch of this business and its development. Without their determination and belief in this project, none of this would have been possible.
My sincere thanks also go to those who believed in our vision and lent us large sums of money to enable us to carry out important projects. Special thanks go to the European Social Fund, whose financial support has been crucial to our expansion.
I thank all the creditors who have provided us with financial assistance, as well as the shareholders who have invested significant additional sums in this project.<\/em>
I am also sincerely grateful to our suppliers who not only believed in this idea but also did an extraordinary job in developing unique components for our products. Their professionalism, innovation and dedication have been invaluable. I am grateful for their patience: they waited and believed in our project even in the most difficult times. If a miracle ever happens and we are able to continue this business, I hope we will be able to work with such outstanding partners again.
However, I would also like to draw attention to the aggressive New Capital fund, whose actions pushed companies into bankruptcy. Although there was an opportunity to restore liabilities and solve financial problems, its position and actions created irreparable damage.<\/strong><\/em>
I also thank the government, although we turned to it four years ago and regularly thereafter, both because of the pandemic and other challenges, for availability of capital and orders. I regret that these problems were not resolved in time and that the slow approach to our situation did not lead to the right solutions that could have saved the company.
I am grateful to the judges who handled our case professionally and used the law to make their decisions. Your work is crucial to resolving this complex situation.
Dancer buses have been transporting passengers in Klaip\u0117da for five years<\/a>, but we will have to wait a long time for more innovative buses.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Do you remember Dancer Bus? The Lithuanian Oem (V\u0117jo projektai consortium) had landed on the market in 2018 with a revolutionary bus: transparent and wind-powered. Then, in 2023, at Busworld in Brussels, it was back to make headlines with another very special vehicle: a 12-meter electric, with an unladen weight of just 8.6 tons, thanks […]<\/p>\n","protected":false},"author":10,"featured_media":27583,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nDancer Bus declared bankruptcy<\/title>\n<meta name=\"description\" content=\"Lithuanian bus manufacturer Dancer Bus is bankrupt. 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