Moove files for insolvency

The start-up wanted to score points with all-electric vans. However, the application is not yet the end of the company, which was founded in 2018.

The start-up Moove has filed for insolvency. The start-up from Aachen, which specializes in the "last mile", apparently filed the application back in October and has now been appointed a provisional insolvency administrator. He is now expected to realign the Aachen-based company, which was founded in 2018, in order to ensure its continued existence. The start-up was previously working on an all-electric van for the courier and logistics market and an all-electric minibus for passenger transportation.

Things haven't actually been going badly at Moove recently. The start-up secured millions in funding as recently as December 2021 and brought on Günter Butschek as CEO this year. The top manager previously worked at Daimler and Airbus and was supposed to lead the 90-strong team into the future. Now came the setback. According to a press release: "Following the successful completion of the concept phase and pre-series, which form the basis for series development, and great interest from potential investors, Moove was recently hit by recent developments on the financial market."

Nevertheless, the company believes it has a future in Aachen. The insolvency administrator said: "We see a highly innovative company here whose developments are close to market maturity and will do everything we can to attract new investors with a viable restructuring concept."

RWTH Aachen professor Günther Schuh and his team founded Moove in 2018. Initially, the start-up was a joint venture between E.go Mobile and Zukunft Ventures, a subsidiary of ZF Friedrichshafen. Moove has been an independent company since October 2021.