Yesterday, I borrowed a quote from Lynne Johnson’s review on the Zero S motorcycle. She quoted Zero CEO Gene Banman saying that competition helps create the market and “having multiple players in the market is good for everybody.”
The words still echo as we read the following news about the impending demise of one of the bigger players in this market:
Electric motorcycle company lays off employees
NBC 10 News
Published: July 15, 2009
Vectrix Corporation, an electric motorcycle company based in Middletown and New Bedford, announced Wednesday it has laid off nearly all of its employees.
The company will file for bankruptcy within 30 days if it can’t find new investors or a buyer, The Providence Journal reported.
About 20 people were let go this week, leaving a handful of executives who have moved to its New Bedford site.
©2009 Media General Communications Holdings, LLC. A Media General company.
This is sad news, as Vectrix has always been considered a pioneer in the industry.
For more information on the impending bankruptcy of Vectrix, read this excellent three-part series on it, written by David Herron: