ROOSENDAAL, the Netherlands – One year after the opening of the e-bike facility of Wuzhou Intercontinental Electric Bikes Ltd, located in Roosendaal, the Netherlands it was forced by the bank to stop its operations. End of November the local branche of the Rabobank confiscated the complete inventory and stock.
The move by the Rabobank is a major setback for the Chinese manufacturer that established the factory for e-bikes and e-scooters in a 2,000 square meter facility which is leased from the municipality of Roosendaal. The Roosendaal facility was planned to become the central service and distribution center for Western Europe for existing and new Wuzhou customers in the Benelux, Germany, Italy and France. The company started with 12 employees and was expected to grow swiftly and strongly to a 50 million euro business with some 50 employees.
In a regional newspaper, Wuzhou Intercontinental owner Mathijs Brugmans expressed his displeasure on the Rabobank move. His Dutch employees reported the confiscation while he was at the headoffice of the company in Wuzhou, China were he lives as well.
Wuzhou Intercontinental Electric Bikes Ltd operated under the brandname Apollo Electric Bikes. The company was founded in 1993 in Shijiazhuang, Hebei province in China. In June 2004 the company was taken-over and placed under Dutch management.