We Drive Solar declares bankruptcy in Hengelo

We Drive Solar, a charging station manufacturer and developer based in Hengelo, has been declared bankrupt. The company, once considered a pioneer in the sector, cited increasing competition and price pressure as reasons for having ‘insufficient perspective’ for continued operations.

The bankruptcy involves four private limited companies with a total debt of approximately 12 million euros. The largest creditor is investor Kees Koolen. As a result of the insolvency, 33 employees at the Hengelo location will lose their jobs. Curator Arco Blankestijn is currently investigating the possibility of a restart.

We Drive Solar was known for developing bi-directional charging stations, which allow electric vehicles to both charge and feed electricity back into the grid to help manage peak demand. One of its major projects involved installing hundreds of charging stations for car-sharing services in Utrecht in collaboration with Renault.