Vectrix pondering bankruptcy

Vectrix was the first company to deliver a “high performance, zero emission, electric motorcycle” in commercial quantities. The VX-1 is in the shape of a maxi-scooter, driven by an electric drive train, could go at near highway speeds, and (for an EV) has a long range. For the most part the customers have been happy with it’s performance and reliability.

Unfortunately as of July 15 2009 they have laid off all but essential staff. This follows a prior layoff in April and several announcements of strategic restructuring over the last few months. The phrase of the day is “conserve cash while continuing to pursue strategic options” which range from sale of the company to a bankruptcy filing. Coincidentally they recently won two 2009 Green Good Design ™ Awards for the VX-1 Maxi Scooter and for an electric Super Bike.

Vectrix Corp is headquartered in Rhode Island, had an assembly plant in Wroclaw Poland, and an R&D center in Bedford MA. Vectrix took years to bring their product to market with the VX-1 first being available in mid 2007. Over the last year they launched two less expensive bikes, the VX-1E and the VX-2. At their height they had 90 dealers in the U.S. and nearly 160 dealers worldwide. Many criticized the VX-1 for a high price (compared to equivalent gas powered scooters) and an expensive business plan which included creating a worldwide sales and service infrastructure.

The Vectrix proved to be a very capable scooter in the hands of owners, climbing mountains, having great performance, and ample storage capacity.

On May 1, 2009 Brammo announced hiring of several “industry leaders” for their executive team. This included several former Vectrix employees. Brammo is now selling an electric motorcycle which is due to be available through Best Buy.

• Vectrix runs out of road as management scrambles for a funding solution
• Vectrix Electric Super Bike Designers Win Good Design Award
• ROBRADY Design Wins Two 2009 Green GOOD DESIGN™ Awards
• Vectrix Preparing For Bankruptcy
• 2009 Vectrix VX-2 and Scooters: 2009 New York Motorcycle Show
• The new Vectrix VX-1e and VX-2
• Vectrix Finally Launched
• Suspension of Trading – What does it mean?
• Vectrix financially close to bankruptcy?
• Vectrix Insolvency: Legal Proceedings

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About David Herron

David Herron is a writer and software engineer living in Silicon Valley. He primarily writes about electric vehicles, clean energy systems, climate change, peak oil and related issues. When not writing he indulges in software projects and is sometimes employed as a software engineer. David has written for sites like PlugInCars and TorqueNews, and worked for companies like Sun Microsystems and Yahoo.

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