Electric motorcycle maker files for bankruptcy in the UK
According to Visor Down and other outlets, the premium electric motorcycle manufacturer responsible for the Arc Vector has entered into bankruptcy protection in the United Kingdom.
Arc Vehicle, the brand behind the Vector, used funding from Jaguar Land Rover in its initial start-up phase before the car company pulled out of the project. As noted by many moto outlets, the electric bike builder had a bumpy ride. It was reorganized in 2019 due to a lack of investment and renamed Arc V Ltd. in 2021.
Arc CEO Mark Truman said that distribution issues in the U.S. for the ultra-premium Vector motorcycle led to its downfall. “Things had been going very well, but distribution issues in the U.S. really hurt our revenue, forcing us to seek investment,” he told Motorcycle.com.
Truman says he’s working with partners to save Arc from bankruptcy. “I will also do everything I can to support client motorcycles in the market going forward.”
According to reports, Arc V Ltd. filed for bankruptcy protection on March 19, 2024, with the court naming a voluntary liquidator the same day.
The company delivered only 11 electric motorcycles to customers, which included Hollywood actor and businessman Ryan Reynolds, and Middle Eastern royalty.
We will continue to follow this story as it unfolds. Truman says it’s been difficult and that he wouldn’t wish this process (bankruptcy) on even his worst enemy.
