Belgian Electric Bus Manufacturer Van Hool Faces Bankruptcy, 1500 Jobs at Risk

Van Hool, a Belgian manufacturer of electric buses among other things, faced bankruptcy on Monday, leading to the unfortunate loss of at least 1500 jobs for its employees. The Dutch VDL steps in to take over the bus division, while the German Schmitz Cargobull will acquire the industrial vehicles department.

The declaration of bankruptcy for Van Hool occurred on Monday as determined by the company court in Mechelen. The reorganization plan was unsuccessful due to the heavy debt burden of 300 million euros. Bus manufacturer VDL and trailer maker Schmitz Cargobull are set to take over as reported by the VRT , with each company assuming part of Van Hool. The specifics of the takeover will be finalized in the upcoming days, offering hope for 650 to 950 employees to retain their positions within the company, which currently employs 2500 staff members. Unfortunately, this also means that 1500 employees will be facing job loss due to the bankruptcy.

Established in 1947, Van Hool initially focused on developing bodies for mounting on other manufacturers' chassis before transitioning into a leading manufacturer of self-supporting buses and industrial vehicles in the latter half of the twentieth century. The company comprised two main divisions: one for constructing public transport buses and coaches, and another for producing industrial vehicles such as specialized semi-trailers and tank containers. Van Hool operated a factory in Koningshooikt, Belgium, as well as one in Skopje, North Macedonia.

Since 2005, Van Hool has been at the forefront of producing hybrid buses that utilize hydrogen as one of their power sources. By the end of 2020, Van Hool introduced its first fully electric coach, the CX45E. In 2022, the company made the decision to permanently halt the production of diesel or gas-powered buses, moving exclusively to buses powered by batteries, fuel cells, or trolley systems. Reports from Flemish media suggest that Van Hool's financial challenges emerged during and after the impact of the coronavirus crisis.