#Zoom : Greenmot is looking for a buyer for its retrofit activity – bus electrification kits

Greenmot, an innovative French company based in Villefranche-sur-Saône, specializes in optimizing the energy efficiency of ground vehicles, and in retrofitting. In the context of a partial assignment concerning its retrofit activity, Greenmot is looking for a buyer in order to consolidate the production and marketing of its electrification kits and accelerate its development on the European market. 

Founded in 2010, Greenmot keeps pace with developments in mobility by offering resources and testing to design the vehicles of the future. Since 2021 the company has been extending its scope by developing retrofitting solutions to transform diesel-powered vehicles into emission-free vehicles, notably to “green up” passenger transport.

Greenmot’s retrofit activity (replacing combustion engines with electric or hybrid engines) involves the design, production and marketing of kits to convert IVECO Crossway diesel buses into emission-free electric models. These kits bring a new lease of life to the most polluting vehicles and help limit the pollution caused by the production of new, cleaner vehicles.

A growing market

Greenmot operates in a growing market, driven by favourable regulations in France and in Europe that encourage retrofitting as an energy transition solution. Financial support, such as the CEE (Energy Saving Certificates) also support this transition.

Further, the company stands out for a number of key competitive advantages that it offers:

• A TCO lower than that of the original diesel vehicle, reducing operators’ costs.
• Original components, ensuring quality and reliability.
• Baggage space maintained, which is essential for intercity transport operators.
• Autonomy of 200 to 300 km, depending on configuration.
• No impact on the chassis or the beams, guaranteeing the structural reliability of the vehicles that are transformed.
• A frame of reference for installation that is used to train fitters and ensure the conformity of conversions.

A strong business model

Greenmot’s potential market is substantial. In effect, in France there are 66 000 coaches and buses, 15 % of which are Crossways, and Europe counts 400 000 vehicles.

In order to reach its targets the company plans to develop a complete range of kits for IVECO Crossway models and to meet the growing demand for electrification in European public transport. In this sector Greenmot is aiming for a production capacity of 200 kits to be delivered annually, to achieve turnover of 5.8 M€ in 2025 and 19.2 M€ in 2026.

With a market supported by financial incentives and calls for tender integrating retrofitting, Greenmot is positioning itself as a key actor in a growing market, driven by the energy transition and favourable regulations, thanks to its expertise in retrofits and its solutions adapted to intercity transport.

Placed into administration on November 7 2024, the receivers AJ UP (Eric Etienne-Martin) launched a call for tender for a partial assignment, with the deadline set at March 7 2025. The main aim of this partial assignment is to consolidate the production and marketing of kits in order to fully penetrate the European market.

Par Agathe Caquineau