Electric Scooter Maker Vectrix to go Bankrupt

07/17/2009 @ 6:01 pm, by Jensen Beeler4 COMMENTS

Electric Scooter Maker Vectrix to go Bankrupt vectrix vx 1 635x531

Electric scooter manufacturer Vectrix is set to file for bankruptcy in 30 days, after failing to find the cash infusion they need back in April. The move to Chapter 11 doesn’t surprise too many people close the company, citing both poor business practices and customer dissatisfaction as being reasons for the manufacturer’s demise.

For instance, the $10,495 Vectrix VX-1 electric scooter allegedly didn’t get the range that had been advertised, and also suffered from poor build quality. Dealers also complained about the order quantity size they would be forced to purchase, likely from Vectrix trying to push as much product out the door of its manufacturing line.

Vectrix motorcycles were available in more than 90 dealerships in the US, and nearly 160 dealerships worldwide. Mike Boyle, CEO and President of Vectrix, stated back in February that models and dealers were the two things holding the company back from being a big success. This statement makes us wonder though what things were driving the company forward, the logo?

A source close to the company had a different take on the reason Vectrix was floundering. “It’s just such a shame, because it was a really good idea and a decent product but lacked the appropriate price point and follow-up development. It was frustrating for those of us from the motorcycle industry who were involved, and we tried to convince them to change how they were doing things.”

Vectrix Corp. is headquartered in Middletown, R.I., an assembly facility in Wroclaw, Poland, and an R&D center in New Bedford, Mass. Employees in the U.S. were told of the likely closing of the doors when they arrived at work on July 131th.

Source: DealerNews via HFL

Comment:

  1. Electris Scooter Maker Vectrix to go Bankrupt – http://bit.ly/2Pcbq7 #motorcycle

  2. Bert says:

    This was obvious many years back, they rolled in with a fancy van and a demo bike. They were bragging how they already have burned through 70 million in R&D.

    They did allow a test ride but were asking to keep it short. I took the bike from 84th Street on York avenue down to 72nd street and back and the fuel gauge dropped to half. (less than 2 miles but I was pushing it as hard as I could) The electric bike I have built in my dad’s shop when I was 8 years old had better performance than that!

    Also, the front panel popped off and went flying into traffic but they assured me that that “should not happen” on the production bike.

    We never signed up as dealers, fearing this would be the outcome and many of our customers would be left with a 10k piece of junk.

    It kinda never fails, too many MBA brains in the kitchen but none listening to the guys in the trenches is a recipe for failure. See: Tidalforce, Ego, EV Global (eBike), EV Warrior… and many more.

    Its a shame that the customer always gets stuck with a worthless, overpriced product.

  3. Ralph says:

    Came upon your article after having read about Vectrix’ demise in a Dutch motorcycle magazine. These are pivotal times in the whole ‘personal transportation’ industry. A lot of eco-entrepreneurs come up with alternatives that don’t make sense business-wise or from a consumer standpoint. You really need to favor electric propulsion ‘an sich’ if you want to drive a Tesla or Vectrix scooter.

    I am presently working on the so-called Space-Efficient Vehicle project. Narrow track vehicles have many advantages: superior fuel economy, lower emissions, new design perspectives, and lean production potential. Plus superior range if equipped with an electric motor and batteries. The SEV is more comfortable (long wheelbase), more energy-efficient (shape), more practical (3 seats) as well as safer (layout) and better handling than a Smart ForTwo. And that car is already out there!

  4. Mike says:

    While Vectrix had a good product, it was not much more robust than the R Martin EVD made by Efun. The EVD is less than $3500 and gets as much or more range. It is a much better value. You should not over sell and over price electrics. Look at the EVD here: http://www.electricbikedistributor.com/evd-electric-motorcycle.html. It is a much better deal.