Recent Comments:
Vectrix home delivery will bring the all-electric scooter to where you live (in CA) {Autoblog Green}
Jan 20th 2008 9:01PM Marc is right on the mark. From the looks of their public financial report out last week on the AIM market, they are in trouble. Only 68 bikes sold worldwide? They have built 1700 - which has resulted in a lot of costly inventory sitting around gathering dust. The $100M they raised is quickly running out and the stock price is down 80% from its initial public offering in May.
Alt Car Expo 2007: Vectrix Scooter smiles for the ABG camera (VIDEO) {Autoblog Green}
Jan 18th 2008 11:23PM Sounds like the company is going to hit the skids..despite raising over $100M last year (after 10 yrs of ups/downs). Here is a link to their public announcement of results for their 1st year as a traded stock. Despite ramping up to produce 1700+ bikes and spending mucho bucks on marketing, they have only sold 68 bikes so far and they are pulling out of the Italian market which is the biggest bike market in the world. They had been projecting 5000 bikes this year. With only $30M cash left and a stock price that has sunk over 80% since going public in May of '07, and at their appetite for money, they won't even last another year.
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1681645&source=RNS
