I was surprised yesterday when I saw that respected news service Reuters was pushing a story about how Apple was the reason Mission Motors closed its doors.
That very premise couldn’t be farther from the truth, and is readily apparent to anyone who has followed the San Franciscan startup at even a casual distance for the past few years.
On its face, the story’s logic is akin to the idea that the Carpathia, the first ship to arrive at the wreckage of Titanic, should be accused of poaching the ill-fated ocean liner’s passengers, but digging deeper into the story shows how toothless our media has become, and its willingness to parrot stories that will grab headlines.
The premise of the of the assertions made by the Reuters article’s headline rests on statements made by one of Mission Motors’s former-CEOs, Derek Kaufman, who like our comedic parody of the Captain of the Titanic, blamed the iceberg for his misfortunes.
If you were one of the unlucky few who plopped down close to $125,000 in deposits for a Mission R or Mission RS electric motorcycle by Mission Motorcycles, we hate to inform you that you are certainly not going to receive the bike you hoped to purchase, and you are likely not going to see your deposit back either.
This is because Mission Motorcycles, commanded by Mark Seeger, is set to file for Chapter 7 bankruptcy, which would see the company’s few assets liquidated in order to repay creditors.
Interesting things are afoot in the electric realm. Mission Motorcycles is about to expand beyond the two-wheels, as the company becomes officially called Mission Electric. The change comes about as Mission plans to expand into the automotive and marine segments, though the San Francisco company isn’t saying yet who it is partnering with in those spaces.
Mission says it will continue to offer consumer-side products, like its current crop of electric motorcycles, the Mission R and Mission RS. However, its business model will expand to offer business-side electric drivetrain components, which was previously the realm of Mission Motors.
From what our sources say, this move will mean that Mission Motorcycles and Mission Motors will once again become one entity — loyal readers will remember that Mission Motorcycles was spun out of Mission Motors two years ago.
New Jersey newspaper The Record is reporting that Mission Motorcycles, maker of the soon-to-be-released Mission RS and Mission R electric motorcycles, has filed a lawsuit against one of the company’s co-founders, Vincent Ip.
In its lawsuit filed with the U.S. District Court in New Jersey, Mission Motorcycles asserts that Ip must relinquish stock in the EV startup, pursuant to a stock restriction agreement the Ip signed with fellow co-founders Mark Seeger and Andrew Ng.