Bad news in the EV world, as Vectrix Motorcycles has filed for bankruptcy…again. Unlike its previous bankruptcy though, this time around Vectrix is filing under Chapter 7 of the US Code, meaning that the company will not be restructuring and keeping its business, but instead liquidating all of its assets and ceasing operation.
We had been hearing rumors as far back as October of last year that all was not well at the prominent electric vehicle company, and finally in December 2013 things came to a head, with Vectrix closing its doors on its US operations.
With all the hype that surrounds the electric motorcycle industry, it is easy to forget the company that basically paved the way for the current batch electric motorcycle OEMs. Depending on how closely you follow the space, Vectrix may or may not be a name that is familiar to you, but it should be. By our last count, the American-based, now Chinese-owned (it went bankrupt in 2009), EV company had put more electric two-wheelers on the road in the USA than Brammo and Zero Motorcycles…combined.
Although not really a show designed for consumers, the Indianapolis Dealer Expo still manages to generate some good gossip. Convening in Indiana each wintery February, industry folk really only have two things to talk about: the weather and industry rumors — since we’re not a weather blog, we’ll focus on the latter. One of the better rumors to come from the Indy show was that electric scooter manufacturer Vectrix is considering building its electric superbike concept, which debuted at EICMA circa 2007.
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.
Electric motorcycle manufacturer Vectrix looks to be in financial dire straits yet again, and is reportedly looking for either a buyer, or possible merger in order to bail itself out of the deadpool.