The commercial bus manufacturing industry in DACH focuses on the production and innovation of various bus models to meet transport demands. Companies in this sector range from well-established legacy brands to agile startups developing cutting-edge electric buses. This industry not only emphasizes safety and efficiency but also increasingly leans toward environmentally friendly solutions, necessitating investments in electric and hybrid technologies. The push for sustainable public transport solutions indicates a bright future, with consumer trends favoring eco-conscious vehicles. Notably, increasing government support for emissions reductions will drive growth as municipalities prioritize cleaner transportation options.


This list features a mix of corporate and venture capital investors, based mainly in Germany and Switzerland. Predominantly large firms like Siemens and Bosch were founded in the 1800s, while newer firms such as Rethink Ventures started in 2022. Most investors have over 10,000 employees and exhibited active investment behavior in 2024, collectively executing over 80 deals. This showcases a strong commitment to advancing technologies within the commercial bus manufacturing sector, reflecting both traditional and emergent investment strategies.


Top 14 Commercial Bus Manufacturing Investors in DACH


1. Mercedes-Benz AG

  • Website: mercedes-benz.com
  • Type: Corporate
  • Headquarters: Stuttgart, Baden-Württemberg, Germany
  • Founded year: 1883
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: mercedes-benz_ag

Mercedes-Benz AG, founded in 1883 and based in Stuttgart, Baden-Württemberg, Germany, is a prominent automobile manufacturer known for producing luxury vehicles and vans. The company operates in vehicle manufacturing and retail, focusing on quality and performance. In addition to its core business, Mercedes-Benz has made strategic investments in the commercial bus manufacturing sector. Notably, it has invested in Proterra, raising significant amounts in Series G and Series H funding rounds, which are aimed at advancing electric bus technology. Furthermore, Mercedes-Benz participated in funding for Vantage Power, a company developing hybrid powertrains for buses. These transactions highlight Mercedes-Benz's commitment to innovation in the commercial bus industry, making it a relevant player in this sector.


2. Volkswagen Group Investor Relations


Volkswagen Group Investor Relations is a corporate investor based in Wolfsburg, Lower Saxony, Germany, founded in 1937. As a major automotive manufacturer and energy solutions provider, Volkswagen Group offers a range of products, including electric vehicles and charging solutions. The company operates through a multi-brand strategy, which includes significant investments in various automotive sectors. Notably, Volkswagen Group acquired Scania on March 3, 2008, enhancing its footprint in the commercial vehicle market, particularly in buses. Additionally, Volkswagen's acquisition of ItalDesign in May 2020 and its strategic moves in the electric vehicle space, such as the establishment of Scout Motors, demonstrate its commitment to innovation and sustainability in transportation. These transactions highlight Volkswagen's active role in shaping the future of commercial transportation, including buses.


3. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a leading technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates significant revenue globally. In recent years, Siemens has made strategic acquisitions to enhance its portfolio in transportation and energy sectors. Notably, they acquired Padam in May 2021, which focuses on smart public transport solutions, potentially impacting commercial bus operations. In August 2023, Siemens also acquired Heliox, a company known for its electric vehicle charging solutions, which is crucial for the electrification of commercial buses. These transactions highlight Siemens' commitment to advancing transportation technologies, making them a relevant player in the commercial bus manufacturing industry.


4. Bosch

  • Website: bosch.com
  • Type: Corporate
  • Headquarters: Birenbach, Baden-Württemberg, Germany
  • Founded year: 1886
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: bosch

Robert Bosch GmbH is a multinational engineering and technology company founded in 1886, headquartered in Birenbach, Baden-Württemberg, Germany. With over 10,000 employees, Bosch offers a diverse range of products and services across mobility, consumer goods, industrial technology, and energy solutions. The company is committed to sustainability and enhancing quality of life through its innovative technology solutions. In recent years, Bosch has made significant investments in the mobility sector, including a strategic stake in Nikola Motor Company, which focuses on electric vehicles, including buses. Additionally, Bosch acquired Evergrande hofer powertrain GmbH, a joint venture specializing in electric drive units, which are crucial for the development of electric buses. These transactions highlight Bosch's active role in the commercial vehicle sector, particularly in advancing electric mobility solutions.


5. Continental AG


Continental AG is a leading automotive manufacturer and technology provider based in Hanover, Lower Saxony, Germany. The company specializes in tires and automotive components, offering innovative solutions that enhance vehicle performance and safety. Founded in the 19th century, Continental has grown to become a key player in the automotive supply industry. Notable transactions include the acquisition of Continental Matador Rubber s.r.o., which strengthens their position in the truck tire market, and the acquisition of Veyance Technologies, which included a commercial vehicle air springs business. These transactions highlight Continental's commitment to enhancing their product offerings in the commercial vehicle sector, including buses, thereby reinforcing their relevance in this industry.


6. Knorr-Bremse AG

  • Website: knorr-bremse.com
  • Type: Corporate
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 1905
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: knorr-bremse

Knorr-Bremse AG, founded in 1905 and headquartered in Flensburg, Schleswig-Holstein, Germany, is a leading manufacturer of braking systems and safety-critical components for rail and commercial vehicles. With a workforce exceeding 10,000, the company has a significant global presence and is committed to innovation in the mobility industry. Notably, Knorr-Bremse has made strategic acquisitions to enhance its capabilities in the commercial vehicle sector. For instance, the acquisition of a majority stake in Cojali S.L. in 2022 for approximately EUR 200 million aims to bolster their expertise in connectivity and digitalization, particularly in the aftermarket segment relevant to commercial vehicles. Additionally, their subsidiary, Knorr-Bremse Systeme für Nutzfahrzeuge GmbH, focuses on systems for commercial vehicles, further solidifying their role in the commercial bus manufacturing industry. Overall, Knorr-Bremse AG plays a vital role in enhancing safety and efficiency in the transportation sector, including commercial buses.


7. Siemens Financial Services


Siemens Financial Services, founded in 1997 and based in Munich, Bavaria, Germany, is a corporate investor that specializes in providing financial solutions to support technological advancements across various sectors, including industry, infrastructure, mobility, and healthcare. They combine their technological expertise with financial services to enable digital transformation and sustainability for businesses. Notably, Siemens Financial Services has been involved in several transactions relevant to the commercial bus manufacturing context, such as their investment in 7 Generational Capital, which focuses on deploying electric trucks and buses. This investment highlights their commitment to supporting the transition to electric mobility. Additionally, their financing of Luminator Technology Group, which manufactures LED-based technology for mass transportation, further underscores their engagement in the transportation sector.


8. Schaeffler

  • Website: schaeffler.com
  • Type: Corporate
  • Headquarters: Herzogenaurach, Bavaria, Germany
  • Founded year: 1946
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: schaeffler

Schaeffler is a corporate investor based in Herzogenaurach, Bavaria, Germany, founded in 1946. The company specializes in automotive components and mobility solutions, offering a range of products including rolling bearings and e-mobility solutions. Schaeffler focuses on innovation and engineering to enhance mobility and address future challenges in transportation. Notable transactions include the acquisition of FAG Kugelfischer in 2001, Compact Dynamics in 2017, and Elmotec Statomat in 2018, all of which reflect their commitment to expanding their technological capabilities. While their primary focus is not on commercial bus manufacturing, their investments in mobility solutions and automotive components suggest a potential interest in this sector, making them a relevant player in the commercial bus manufacturing landscape.


9. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. The firm has been actively involved in the transportation sector, particularly through its investments in FlixMobility and FlixBus. In 2021, HV Capital participated in a $650 million Series G funding round for FlixMobility, a transportation app provider, which aims to expand its network across various countries. Additionally, HV Capital has been involved in multiple funding rounds for FlixBus, including a $650 million Series G round and a $563 million Series F round in 2019. These transactions highlight HV Capital's commitment to supporting innovative transportation solutions, including commercial bus services, thereby positioning itself as a relevant player in the commercial bus manufacturing industry.


10. UVC Partners


UVC Partners is a venture capital firm based in Munich and Berlin, specializing in investing in B2B startups across Europe. Founded in 2011, the firm provides financial support and strategic guidance to early-stage companies, helping them grow and succeed in competitive markets. Notably, UVC Partners has been actively involved in the transportation sector, particularly through its investments in FlixBus, which raised substantial funding across several rounds, including $563 million in Series F in July 2019. Their portfolio reflects a diverse range of innovative startups, and their focus on the transportation industry, especially with FlixBus, highlights their commitment to supporting advancements in commercial bus services.


11. MAN Truck & Bus SE


MAN Truck & Bus SE, based in Munich, Bavaria, Germany, is a leading manufacturer of commercial vehicles, specializing in trucks, buses, and vans. Founded in 1758, the company has a long history of providing a range of services, including maintenance, repair, and digital fleet management solutions, primarily targeting businesses and organizations in logistics, transportation, and construction. Notably, MAN has made significant investments in the commercial bus manufacturing sector, including the acquisition of VW Truck & Bus for approximately $1.53 billion, which enhanced their market position in Brazil. Additionally, they acquired a 25% stake in Chinese OEM Sinotruk, further expanding their global footprint. In 2016, MAN Truck & Bus also participated in a Series A funding round for Fr8 Revolution, a company focused on innovative transportation solutions, indicating their commitment to advancing the commercial vehicle industry. Overall, MAN Truck & Bus SE is a key player in the commercial bus manufacturing landscape.


12. Mountain Partners


Mountain Partners is a venture capital firm based in Zurich, Switzerland, founded in 2005. The firm specializes in investment management and focuses on providing funding and operational support to startups and technology companies across Europe, Latin America, and Asia. Mountain Partners manages a diversified portfolio of VC funds aimed at empowering innovative businesses and facilitating their growth. Notably, they have been involved in several transactions relevant to the transportation sector, including investments in Recorrido, a platform for bus ticketing, and Busbud, an online marketplace for intercity bus tickets that raised $11 million in financing in 2022. These transactions highlight Mountain Partners' engagement with the commercial bus industry, making them a relevant investor in this space.


13. EnBW New Ventures

  • Website: env.vc
  • Type: Venture Capital
  • Headquarters: Karlsruhe, Baden-Württemberg, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: enbw-new-ventures

EnBW New Ventures is a venture capital firm based in Karlsruhe, Baden-Württemberg, Germany, founded in 2015. The firm specializes in investing in European startups that focus on sustainable infrastructure and digital solutions. With a corporate backing from EnBW Group, they are well-positioned to support the energy transition. Notable transactions include their participation in funding rounds for companies like CYCLE, which is involved in sustainable transportation solutions, and Easelink, which develops automated electric vehicle charging solutions. These investments highlight their commitment to supporting innovations that could impact the commercial bus manufacturing industry, particularly in the realm of electric mobility and infrastructure.


14. Deutz Ag

  • Website: deutz.com
  • Type: Corporate
  • Headquarters: Herten, North Rhine-Westphalia, Germany
  • Founded year: 1864
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: deutzofficial

DEUTZ AG, founded in 1864 and based in Herten, North Rhine-Westphalia, Germany, is a corporate investor specializing in advanced drive systems and engine technology. The company manufactures a variety of engines, including diesel, hydrogen, and electric engines, catering to sectors such as agriculture, construction, and transportation. In recent years, DEUTZ AG has made significant investments to expand its portfolio in alternative powertrains and urban mobility solutions. Notably, they acquired Urban Mobility Systems in April 2025, which aligns with their interest in urban transportation. Additionally, their stake in Blue World Technologies, a company focused on methanol fuel cell technology, reflects their commitment to innovative energy solutions that could benefit the commercial bus sector. Their acquisition of Torqeedo and the planned acquisition of Blue Star Power Systems further demonstrate their strategy to enhance their capabilities in engine technology, which is essential for commercial bus manufacturing.



Commercial Bus Manufacturing Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Mercedes-Benz AGStuttgart, Baden-Württemberg, Germany10001+18831
Volkswagen Group Investor RelationsWolfsburg, Lower Saxony, Germany10001+19371
SiemensMunich, Bavaria, Germany10001+184711
BoschBirenbach, Baden-Württemberg, Germany10001+18865
Continental AGHanover, Lower Saxony, Germany11-501
Knorr-Bremse AGFlensburg, Schleswig-Holstein, Germany10001+19052
Siemens Financial ServicesMunich, Bavaria, Germany1001-5000199715
SchaefflerHerzogenaurach, Bavaria, Germany10001+19462
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
UVC PartnersGarching, Bavaria, Germany11-50201115
MAN Truck & Bus SEMunich, Bavaria, Germany10001+17580
Mountain PartnersZurich, Zurich, Switzerland11-5020051
EnBW New VenturesKarlsruhe, Baden-Württemberg, Germany11-5020154
Deutz AgHerten, North Rhine-Westphalia, Germany1001-500018644


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