May 30, 2018 / 11:48 AM / a year ago

Deutsche Post says Streetscooter flotation possible

The new StreetScooter electric delivery van is seen during an opening tour of the production line in Dueren near Cologne, Germany, May 30, 2018. REUTERS/Wolfgang Rattay

DUEREN, Germany (Reuters) - Deutsche Post DHL (DPWGn.DE) could envisage floating its Streetscooter electric van business, which is expanding internationally, on the stock market, but not for another two to three years, an executive said.

“It’s theoretically possible. We’re looking at the next two to three years,” Deutsche Post board member Juergen Gerdes said on Wednesday at the opening of a new production facility.

Deutsche Post developed the Streetscooter for internal use to keep emissions low as online shopping creates more demand for parcel deliveries, but demand from other companies for the van has pushed it to boost production.

Gerdes, however, said that Deutsche Post would not sell its entire stake in the business.

The new production site in Dueren, north western Germany, will be able to produce around 10,000 per year and joins another factory in Aachen, allowing the company to double production to 20,000 per year.

Deutsche Post currently uses over 6,000 Streetscooter vans itself.

On Monday, it won a contract to deliver 200 electric trucks to a British company that delivers bottles of milk to homes.

Reporting by Matthias Inverardi; Writing by Victoria Bryan; Editing by Ludwig Burger and Susan Fenton

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