Ebro raises 20 million euros in its first round

Ebro has successfully completed its first financing round for an amount of 20 million euros. EV Motors, the company driving the rebirth of the historic brand, has brought in more than 70 institutional, qualified, and family office investors into its capital.

Once this first financing phase has been completed, the company is focused on closing the agreement for the Chinese car company Cherry to manufacture in Barcelona, whose negotiations it has reported are "very advanced". Likewise, Ebro plans to open a second round next year, in addition to also working to go public on the BME Growth market, with the aim of continuing to raise more funds.

The funds raised will be used to finance the engineering of the models that Ebro will manufacture at the Zona Franca plant in Barcelona, where the brand was born in 1967 and was later acquired by the Japanese automaker. The company will be one of the agents that will revive the old Nissan plant with the D-Hub, accompanied by QEV and Silence. Goodman's plans, who was awarded the land, are also progressing. The developer plans to start leasing spaces on the plot previously occupied by the car manufacturer next year.

In Ebro's case, it plans to produce a pick-up and a minivan, both electric, with the forecast of manufacturing 50,000 units annually by 2027. Ebro's pick-up will leverage the lines of an old Nissan model and will have a range of 400 kilometers.

The plans of the company led by Pedro Calef involve starting the commercialization of the first models manufactured in the Zona Franca at the end of 2024 and delivering the first units in 2025. The progress of the Ebro project will allow for the progressive hiring of former Nissan workers.

EV Motors, Ebro's parent company, is a company controlled by several of the founders of the engineering firm Barcelona Technical Center (Btech), specialized in the design and calculation of components for the automotive, railway, and aeronautical sectors. Btech employs about 400 people and has its headquarters in Martorell, in addition to having offices in Germany, Belgium, and Brazil. EV Motors, the parent company, owns 100% of Btech and a stake in the D-Hub, also promoted by QEV.