Lithuanian electric bus manufacturer Dancer Group declares bankruptcy

Lithuanian company Dancer Group, which includes subsidiaries Vėjo projektai and Elektrinio transport sistemos, has declared bankruptcy.

Dancer Group is a company that manufactures Dancer electric buses. The idea for a new electric-powered bus came about in 2012. Creation of the concept and trademark began in 2013. The vehicle was developed by Vėjo Projektai company from Klaipeda. The first prototype of the Dancer electric bus was built in 2016, and the first generation of buses received EU passenger transportation certification in 2019.

In 2020, the European Energy Efficiency Fund (EEEF) and Dancer Group announced the establishment of Dancer Mobility to provide public authorities with comprehensive operational leasing services for Lithuanian-made electric buses. 

However, after the pandemic, Dancer Group began to experience difficulties and in 2022 began to restructure and cooperate with the investment fund NuCapital in July 2022, when the fund provided Vėjo projektams with a loan of €1.8M. The loan was granted until July 2025, and the plant (building and production equipment worth €2.5M) was pledged as collateral. But despite all attempts to recover, the company had to start bankruptcy proceedings.