Safra Enters Receivership Amid Discussions with Asian Financial Consortium
Key Ideas
- Safra, a French company specializing in electric buses, has been placed in receivership by the Commercial Court of Albi due to financial difficulties.
- Despite facing a decline in revenues, Safra has ongoing discussions with an Asian financial consortium and is seeking further investors to raise capital.
- The company aims to restructure its liabilities, continue operations, and focus on carbon-free mobility with the support of stakeholders, including employees, investors, partners, and customers.
- Vincent Lemaire, Chairman of Safra, remains optimistic about the future, highlighting the commitment of the employees and the potential for a brighter outlook through investor discussions.
Safra, a French company known for its production of hydrogen-powered buses, has faced financial challenges leading to the decision of being placed in receivership by the Commercial Court of Albi on February 4, 2025. The company had experienced a significant drop in revenues, leading to an observation period under receivership for its subsidiary Safra Agencement. Despite these difficulties, Safra has been in talks with an Asian financial consortium to secure several tens of millions of euros in investments. The company has also managed to deploy hydrogen-powered buses on the road and secure orders for its next-generation models. Despite the decline in turnover, Safra's focus remains on carbon-free mobility.
Vincent Lemaire, the Chairman, expressed hope in the ongoing discussions with investors to enable the company to navigate through this challenging period and ensure the continuity of its operations. The goal of the receivership is to restructure liabilities and provide Safra with the opportunity to recover with the support of various stakeholders. Lemaire thanked employees, investors, partners, and customers for their support during this crucial time, emphasizing that the company is committed to continuing its activities in the realm of carbon-free mobility. The sentiment conveyed in the article is positive, highlighting the determination of Safra to overcome its current financial obstacles and look towards a more promising future with the help of potential investors.
Topics
Public Transit
Investment
Electric Vehicles
Financial Challenges
Business Operations
Restructuring
Stakeholders
Receivership
Carbon-free Mobility
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