German postal services group Deutsche Post has hired Goldman Sachs to evaluate options for its electric van business StreetScooter as it seeks to expand the unit and tap an expected surge in demand, people close to the matter said.
The investment bank has been asked to study potential options of Deutsche Post, which is shying away from making large investments in StreetScooter or taking on risks tied to large scale vehicle production, the people said.
Potential partners, including carmakers, are generally better equipped to deal with activities like sales and marketing, product liability management and procurement of parts, they added. Private equity groups are also expected to show interest if all or part of the company is put up for sale, they said, adding that a stock market flotation also remained an option.
Deutsche Post CEO Frank Appel has said in the past that he would expect large interest from German and foreign groups, be it peers or investors, noting that analysts have valued StreetScooters at several billion euros.