When John Walsh left a career in private equity to launch Endera, he saw an opportunity to transform bus manufacturing in the U.S. by focusing on clean mobility solutions.
Now, with $49 million in funding, his company is scaling production of electric buses primarily for the transit market, while also dedicating 25% of production to school buses and electric shuttles.
Endera’s latest funding round, led by Magnetar and joined by Pulse Fund and longtime strategic partner Pritchard Auto Company, will support expansion at its Ohio manufacturing facility.
The $36 million equity investment, along with a $13 million loan for operations, will help increase production capacity, develop new vehicle technologies, and expand the company’s reach in the public and private transportation sectors.
Started in imports
Walsh’s background in private equity included work with automotive and transportation restructuring teams, where he managed specialty automotive companies like armored vehicle manufacturers. His journey into bus manufacturing began with his work in electric vehicle imports after he was assigned to an electric bus company attempting to import vehicles from Asia. He quickly realized that domestic manufacturing was crucial to success in the U.S. market.
“One thing I learned is that international transportation equipment is not looked on favorably, and most of the market has Buy America requirements,” Walsh said in an interview with Bus & Motorcoach News.
His experience led him to establish Endera as a vertically integrated, U.S.-based bus manufacturer, capable of controlling every stage of production. Endera was founded in late 2018 and formally incorporated in January 2019.
“You can’t get an electric bus from one person in this market. You have to deal with multiple suppliers,” Walsh said. “Our model eliminates that complexity, providing a seamless, one-stop solution for operators who just want to focus on moving people.”
Endera’s vertically integrated approach allows the company to provide a complete package, including vehicles, powertrains, charging solutions, and fleet management software. The company’s goal is to lower costs and improve service reliability by streamlining procurement and ensuring a reliable supply chain.
While Endera primarily focuses on the transit sector, the company sees an opportunity to expand into the private bus and motorcoach market. By offering a lineup of electric school buses and mid-sized shuttle vehicles, Endera hopes to attract private operators looking for cost-effective and environmentally friendly fleet solutions.
“The bus and motorcoach market has traditionally been slow to adopt electrification due to cost concerns and infrastructure limitations,” Walsh said. “But with the right business model, operators can see the long-term savings and operational efficiencies that EVs provide.”
Positive business climate
Despite shifting federal policies on EV incentives, Walsh believes the Trump presidency could benefit Endera’s business model.
“The Trump administration has always prioritized bringing manufacturing back to America, and that’s exactly what we’re doing,” Walsh said. “We’re not just assembling parts—we’re designing, engineering, and manufacturing vehicles right here in the U.S., which is something any administration that supports domestic industry should favor.”
He noted that economic benefits remain a key driver of EV adoption. “You’re lowering your operating costs by upwards of 75-80% by having a lower energy cost and a lower maintenance cost,” he explained. “Maintenance on an EV is much less than on a gas vehicle.”
Regulatory factors are also driving EV adoption, Walsh added. “Cities have their own mandates, like San Francisco and Los Angeles, where by 2028, all new buses must be electric. Ports, like airports and land ports, have clean air mandates.”
“For all those reasons, this market segment is particularly unique in terms of resilience against macro sentiment against EVs,” he said.
Endera provides fully integrated solutions, offering a variety of vehicle types including internal combustion engine (ICE) buses, propane, CNG, and electric models.
“We believe fundamentally that the future is electric in this market segment,” Walsh said.
He and his team will be attending key industry conferences to introduce their vehicles and solutions.
“We’re ramping up our EV production. We have a vertically integrated solution that drives improved quality, competitive pricing, and a better service experience.”
Endera also provides advanced software solutions to help fleet operators manage their vehicles more efficiently.
“We offer compelling software products that help manage your fleet, track your fleet, provide ETA updates for riders, and optimize route operations,” Walsh explained.
“The bus industry—things are always going to go wrong. It’s having a company that has a service-minded set of values and accountability,” he added. “It’s very simple: We drive accountability, act as the one-stop shop and solution, and through doing that. We can reduce inefficiencies and drive cost and quality
Not relying on subsidies
Walsh emphasized that while federal subsidies for electric vehicles have fluctuated, Endera remains well-positioned due to strong demand from state and municipal programs, especially in regions with strict emissions regulations like California and New York.
“Our largest customers – airports, school districts, and transit agencies – are moving toward EVs regardless of federal policies because they see the financial and environmental benefits,” he said. “We’re not solely dependent on tax incentives. We’re building a product that makes financial sense for operators in the long run.”
A key component of Endera’s expansion is its manufacturing facility in Ottawa, Ohio. The 250,000-square-foot plant, formerly a Winnebago and Philips manufacturing site, has enabled the company to scale production by 20 times since acquiring it in 2021. The site serves as a hub for producing both electric and internal combustion-powered vehicles, allowing Endera to meet the needs of operators at different stages of fleet electrification.
“We’re seeing more interest from customers that realize EVs aren’t just a regulatory requirement. They’re a financial and operational advantage,” Walsh said. “The combination of lower maintenance costs, better performance, and growing infrastructure support makes now the right time for our company to take this step.”
