Quantron is running out of money but a capital increase is expected soon, media report

German newcomer Quantron is running out of money. The news has been reported on local German outlet Augsburg Journal and on e-mobility agency Electrive. Fresh funds from existing investors are now expected to save the company.

According to the local newspaper, employees at Quantron AG are facing severe concerns over delayed wages and job security. Quantron, a German e-mobility company based in Gersthofen, north of Augsburg, was initially seen as a rising star in alternative fuel trucks with goals to expand to North America and India, and had some business going on also in the bus segment: the 12-meter e-bus Quantron Cizaris was launched in 2022. First order was landed in Italy, where Quantron launched also a division.

Quantron: a capital increase expected soon

Since April, many workers report they haven’t received their salaries, leaving them in financial uncertainty. One employee describes morale as being “at rock bottom,” a sentiment that reflects a growing frustration among the team.

The Augsburg Journal also notes that Quantron has faced legal actions, with multiple wage claims filed against the company in Augsburg’s labor court. Many employees feel a bankruptcy filing may be necessary to secure back wages, but Quantron’s management has so far reportedly refrained from taking this step. Meanwhile, Quantron’s CEO, Andreas Haller, is reportedly recovering from a second heart attack, adding to the company’s complex situation.

According to Electrive, “Quantron takes offence at some of the Journal’s reporting due to “rumoured information that is definitely not correct.” However, the company does not deny that the situation itself is delicate when asked by elective. “We are in a tense situation and are aware of it,” Quantron CFO Beate Reimann said”. However, the latter is quoted as saying that “the existing investors want to contribute a seven-figure sum”, with the capital increase expected in a few days.