Industry

Vectrix files for bankruptcy

US electric motorcycle firm goes to the wall after failing to secure financial investment

AMERICAN ELECTRIC motorcycle specialist Vectrix look like going under after it was revealed the firm has filed for bankruptcy.

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."

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