Alta Motors closes its doors, for now
Firm needs new investment, calls a halt to operations in the meantime
WE'RE PRETTY gutted at having to write this story, but just a couple of weeks after we visited Alta Motors' headquarters in San Francisco and rode their Redshift electric bikes, the firm has closed its doors and laid off its staff. The collapse of a proposed investment/buyout from a major manufacturer hit the Brisbane, CA firm hard, and it's called a halt to production in order to seek new funding.
Staff at Brisbane were sent home yesterday, with apparently no warning, and the firm posted a farewell message on its Facebook page. The firm had been looking like it was on the up, with sales and dealer network for its acclaimed electric bikes both expanding rapidly. But the failure of a partnership with Harley-Davidson to use Alta's battery and motor technology on forthcoming electric machines pointed to deeper woes.
The positive take is that halting operations will reduce Alta's spending, giving it time to pause and concentrate on new finance, partnerships or a fresh acquisition plan. And we're definitely hoping that's the case for the firm - its Redshift bikes showed too much promise to end up as a footnote in history. More on this story as we get it.
