Škoda Transportation Acquires EKOVA ELECTRIC

posted on 7th Jul 2020 13:42

On 7 July 2020 Škoda Transportation signed an agreement to purchase a 100 % share in EKOVA ELECTRIC of Ostrava. The value of the transaction is 416 million CZK (around 16 million EUR). The transfer of the share to the Škoda Transportation Group will take place in 2021.

„For a long time now, we have been intensively solving the long-term sustainable future of the city company EKOVA ELECTRIC in the technologically rapidly changing world of mobility. I am glad that the period of uncertainty is coming to an end and the company, which was established almost 10 years ago by spin-off from DPO, is now becoming part of the strong and rapidly expanding domestic group Škoda Transportation,“ said Ostrava Mayor Tomáš Macura.

„DPO, the Ostrava urban transport operator, as the owner of EKOVA ELECTRIC, constantly strived to increase or at least maintain the value of the entrusted property, the employment of qualified people and competitiveness. However, we came to the professional conclusion that selling to a strong investor is the most advantageous option for us at a given time and place. Other options are of a disproportionately high risk for us. I believe that the choice of a new owner will be beneficial for all parties involved,“ added Daniel Morys, DPO Chairman of the Board of Directors.

„Škoda Transportation will turn EKOVA ELECTRIC, which is based in the tram depot in Ostrava-Martinov, into its new competence centre for trams. It will focus on traditional vehicle repairs and upgrades for the Ostrava urban transport operator DPO as well as for other companies. And new trams, electric buses and trolleybuses will also be manufactured here for current and future customers of the Škoda Group,” explains Petr Brzezina, Chairman of the Board of Directors of the Škoda Transportation Group.

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