Farukh Kitchlew | Feb 19, 2024 | 0
Berlin-based E-Scooter Manufacturer UNU Filed for Insolvency
Berlin-based electric scooter manufacturer UNU filed for insolvency at the Berlin Charlottenburg District Court on November 23, 2023. The district court has appointed Dr. Gordon Geiser from the law firm GT Restructuring as the provisional insolvency administrator.
UNU’s lineup features two engine powers: the UNU Scooter Move with a 2 kW motor and the connected UNU Scooter Pro with a 4 kW motor. The Pro model covers up to 50 km while the Move travels up to 60 km on a single battery charge. Adding a second battery doubles the range to 100 or 120 km. Both models offer a 33.4-liter storage compartment under the seat. UNU’s e-scooters are available for purchase in Germany, Austria, France, and the Netherlands. Additionally, in Germany, a subscription model spans 36 or 48 months. Recently, employees have had the option to lease these e-scooters through Lease-a-Bike, serving as an alternative to company bikes.
UNU has faced several major challenges in recent years. They’ve endured a pandemic-related production shutdown, a warehouse fire, and the impact of chip and container crises. Despite these hurdles, the company notably reduced losses since the pandemic’s onset. However, current inflation and customer hesitancy have caused a drastic 50% drop in the scooter market within their core markets. This, coupled with rising material and logistics expenses, has jeopardized UNU’s business model. Consequently, their financing round couldn’t be completed, leading to the necessity of filing for insolvency.
UNU’s scooters represent more than just a product; they embody a lifestyle focused on modern, sustainable, and quiet urban transportation, emphasizing driving enjoyment. As a leading German electric scooter manufacturer, UNU holds a strong national and international reputation. In 2023, the company revamped its scooter subscription and expanded its offline presence with retail partners. Dr. Gordon Geiser from GT Restructuring, the insolvency administrator, remains optimistic about finding a restructuring solution to continue selling and servicing the scooters.