US electric motorcycle firm goes to the wall after failing to secure financial investment
For the last six months the company has sought financial investment in order to continue production; no one has offered to step-in to bail-out the electric bike manufacturer. To add to their problems Vectrix's dealers have been far from happy with the company's business ethics; many complained about the quality of the product and its high price compared to other electric machines on the market.
"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," a Vectrix insider told DealerNews. "My whole thing was dealer health -- if the dealers are healthy everybody wins -- and they just didn't understand that."
Posted: 21/07/2009 at 13:34
jezz'd wrote (see)
was going to invest in this as a business venture - glad I didn't now!
Thats the whole point, things like this put back progress years, the electric car/bike is coming whether people like it or not.
Letting a leading edge company go to the wall is a bad investment, having a business minded person at the helm is.
Posted: 21/07/2009 at 13:55
Invest in those that end up buying the company cheap.
The development is done, they have a product and market. They won't have the bank debts to service.
Electric bikes are still limited by battery technology and cheap petrol - but they are in our future for sure.
Posted: 21/07/2009 at 14:21
£5516
£9499
£7999
£5500