Coventry-based luxury electric logo Arc for the £98,000 hub-steered Vector has announced it has filed for bankruptcy.
Arc V Ltd was founded in 2020 and had delivered 11 electric motorcycles to consumers before starting the liquidation process. Some of the most prominent clients include Hollywood actor and entrepreneur Ryan Reynolds, as well as Middle Eastern royalty.
“At the end of the day, when you’re promoting traditional, low-volume, high-priced products, you don’t need a lot of people to disappoint you and put you in a difficult position,” explained founder and CEO, Mark. Truman. ” Things were going very well, but distribution problems in the United States hurt our income, which forced us to look for investments.
“Lately I’ve been working with partners and I’m determined to try and get Arc out of management. I will also do everything I can with customers’ motorcycles on the market in the future. “
The company says it is close to completing European homologation and has already secured from the government’s Ministry of Trade, Energy and Industrial Strategy (BEIS) and the government’s Office for Low Emission Vehicles (OLEV) the expansion of a new dual motor with built-in inverter. Riding electric motorcycles.
After announcing at the end of 2023, things were looking up for the British company, which released a rendered symbol of three motorcycles and a four-wheeled off-road vehicle and said it was powered by a variety of battery-powered machines.
“We did everything we could to try to put an end to this situation,” Truman told MCN. “My wife and I invested our own money almost until the last day, even though we had almost a guarantee that we would never see the money again. “.
“The first thing we did when we knew this was going to be to reach all customers,” he continued. “Everyone was very understanding and wanted us to be the most productive and hoped we could rectify the situation. “
In addition to government support, Arc has a self-funded motorcycle project design and engineering consulting job, Arc Design.
The nearly £100,000 Vector featured hours of progression through former MotoGP and BSB rider James Ellison and used a Bimota-style mid-steering front end. The central component of the motorcycle features a carbon fiber monocoque, used to space the 399V battery.
The rear swingarm bolts to the rear of the engine, with carbon fibre BST wheels shod with Pirelli Diablo Rosso IV Corsa tyres at each end.
Although Arc V Ltd has been around since 2020, the story spans seven years. Prior to that, there was Arc Vehicle Ltd, which started in early 2017 but was put under administration in September 2019. Truman then bought the assets to keep the task alive.
“This is the worst process,” he continued. It’s the most brutal process, especially right now because you promised yourself it wouldn’t happen again. “
The exact rest of the brand remains anyone’s guess, with Truman adding, “It’s hard, I don’t wish it on my worst enemy. “