Vectrix Hit Hard by Recession, 60 Layoffs, Company May be Sold
Let's Hope this is Not the End of the Road for Vectrix...
Vectrix, makers of fine electric scooters, don't seem to be immune from the current global recession. Maybe if they had screwed up really badly they'd be getting a bail out? But let's not get into that... The latest news are that the company is seeking "strategic alternatives" which might include a merger or a sale and that it will "significantly" reduce its workforce by laying off 60 people.
According to AutoblogGreen:
The first signs of trouble became apparent last month as reports from the UK indicated that Vectrix "will not be able to publish its Report and Accounts for the year ended 30 September 2008 until, inter alia, the successful completion of a fund-raising exercise." That caused the London Stock Exchange to halt trading of the company's stock
The main question now is: What would happen to Vectrix in the event of a sale or merger? Would it be absorbed by a bigger company and be digested. What would that be like? Would it mean more R&D; budget, more economies of scale, more electric scooter models..? Or would electric scooters be shelved by the new owner (eliminating competition?) and would Vectrix become a shadow of its former self?
We can't know yet... But I'm curious to know what you think. Anyone has inside info? Educated guesses?
Via Forbes, ABG
More Electric Vehicles
TED: Shai Agassi Shares His Vision for 100% Electric Cars & Clean Energy
Already 3,300 Reservations for the BlueCar EV by Pininfarina and Bolloré
Hitler's Electric Car Dilemma
Stop Slandering Scooters!