Odin Automotive Starts Production of First StreetScooter Engineering Vehicles Under New Team

Germany’s Odin Automotive, an automotive holding company led by global automotive experts, has announced the official start of production for the first StreetScooter Engineering (StSE) vehicles under the new management team. The vehicles are being manufactured on StSE’s existing line in Düren, Germany, and will be delivered to former owner Deutsche Post DHL Group (DPDHL).

It’s the beginning of an order for 3,500 vehicles to continue electrifying the postal delivery fleet in Germany.

This announcement follows just three weeks after Odin officially acquired StSE’s existing IP, production lines, and subsidiaries in Switzerland and Japan.

DPDHL has retained a 10% investment stake in the venture.

Odin’s EVP of Operations, John Burton, who previously served as Executive Director for General Motors, oversaw the set-up and reorganisation of manufacturing operations under the new owners.

Burton says: “We are incredibly proud to announce this step for our new venture and the tireless team behind it. We knew that the operational maturity of StreetScooter Engineering provided a huge first-mover advantage to us from the beginning, and today is proof that we meant it when we said we intend to capitalize on that advantage.”

Odin Automotive is led by CEO and Chairman, Stefan Krause, who is the original CEO and founder of EV company Canoo and previously held roles as CFO/Board Member of automaker BMW and CFO of Deutsche Bank.

It is backed by several institutional and private global investment partners, including a major Chinese OEM, a partner for contract manufacturing in North America, and Sparta Capital Management, a London-based investment firm.