|Wrong timing for Vectrix - BMW now developing a range of electric cars.|
|But businesswise, not looking good..
|Formula 1 driver Giancarlo Fisichella also rides a Vectrix bike - as does Damon Hill, and Eddie Jordan apparently..
|The City of Los Angeles Port Authority, which is responsible for the running of
North America's leading seaport, has ordered four Vectrix Motorcycles for use by
the Los Angeles Port Police. This order represents the first sale to a fleet
operator in the United States.
In the United Kingdom, Strathclyde Police has also placed an order for a full
liveried, blue light equipped "Police Vectrix" which will be deployed for
security purposes at Glasgow Airport. This represents the first purchase by a UK
police force and follows recent sales to a number of fleet operators in the UK
including: Accord, PLC (for the Highways Agency), the Automobile Association, a
number of London motorbike courier companies and FIA, the motorsport world
|Article comparing cool-looking expensive Vectrix scooter with less-cool-but-cheaper Chinese import.
Indian-made Hero electric scooters are also available. http://www.hindu.com/2007/01/05/stories/2007010500821700.htm
It is difficult to see Vectrix achieving sales at a premium price in a market largely consisting of economy-minded buyers.
Vectrix perhaps don't consider themselves to be chasing mass market sales, and expect instead to sell to the discerning and wealthier buyer - but is that a big enough niche? And is the Vectrix scooter - impressive though it is - impressive enough to appeal in that market?|
|Taken a bit of a hammering with loss this year, however I was happy to see the lines
"successful resolution of initial product quality issues; product defect
level reduced from 1.0 per bike in June 2007 to fewer than 0.013 at calendar
year end, which is within our tolerances for product integrity"
I think is good news, this linked with the PR should help.
I suggest that the unit cost are high and any reduction in this through manufacturing process would help the sales.
averaged down this week and will now sit till 2010...
Have fun all|
|High product price but questionable reliability, is not a nice combination. Even if they've sorted the reliability issues, they need to prove it, before those who were put off by that will come back in. Maybe I am being unfair, but fairness isn't what investors are about.|
|also some investment funds had to sell because its market cap fell below a threshold i.e. they were forced to bale out by their own rules, thereby making the share price fall further.|
|Industry Eye: Electric motorcycle share price plummets
Author: Visordown News
Published: 5 Dec 07
THE ENVIRONMENT may be a big topic in the news right now but it hasn't stopped Vectrix, the company that produces electric powered motorcycles, from serious financial woes.
An article on telegraph.co.uk, states Vectrix's share price has plumetted from a float value of 52p to a mere 12.5 pence.
The demise in the company's share value has been attributed to production gremlins, investors selling their shares immediately after the float to make a quick buck and a lack of after-float support from the company's bank, HSBC.|
|Press coverage in the FT weekend I see - and also in the Telegraph City Column yesterday. I will try to find a link.
Perhaps they are finally learning how to communicate?|
|Vectrix Unveils 3-Wheel ZEV at EVS23
Anaheim, Calif.-December 2-5, 2007-Vectrix Corporation (www.vectrix.com), maker of the world's first high performance, two-wheel zero emission vehicle (ZEV), unveils the three-wheel Vectrix at the 23rd International Electric Vehicle Symposium and Exposition (EVS 23) at the Anaheim Convention Center.
Vectrix Chief Marketing Officer Jeff Morrill introduces the three-wheeler during a press conference at 12:30 p.m. on December 2. Vectrix will be located at Booth 643 during the show.
The three-wheel Vectrix has patented twin front wheels that grasp the road during cornering, offering the agility of a scooter and the safety and stability of a small car. At low speeds, this bike is stable and allows riders to remain upright without ever having to put their feet down.
Like the two-wheel Vectrix, which was launched in the summer of 2007, the three-wheeler is all electric, reaches a top speed of 62 mph and goes 40-60 miles on a single charge. Unlike the two-wheeler, which has a metal nickel hydride battery, the three-wheeler has a lithium ion battery and offers faster acceleration, going 0-50 MPH in 5.2 seconds.
"The three-wheeler is an excellent alternative for riders who desire increased stability, while also looking for the maneuvering ability of a scooter," said Vectrix founder and president Andrew MacGowan. "This new Vectrix model keeps Vectrix at the forefront of the electric revolution in personal transportation."
The three-wheeler arrives to market in the summer 2008 and is expected to be priced at $15,990.
The Vectrix models offer performance and style along with a clean, efficient, electric engine. They were designed to provide reliable and affordable transportation for commuting and recreational needs, helping relieve traffic congestion, pollution, parking hassles and inflexible public transportation. Both Vectrix models have an onboard charger plugs into any standard 110-volt electrical outlet to recharge the battery in just 2-3 hours.
Compared to traditional gasoline scooters that can produce up to 10 times the pollution of an average automobile, Vectrix is totally emissions free. It is virtually silent and highly efficient-a patented regenerative braking system redirects energy back into the Vectrix battery pack, which helps to extend its range by up to 12 percent. It's more cost effective than gas or hybrid vehicles, too, since electricity is now one-tenth the cost of gasoline.
Sophisticated design efficiencies of the smart, sleek Vectrix include a high-efficiency gearbox and drive train, aluminum construction for weight reduction and aerodynamic styling to reduce drag. A low center of gravity, stiff frame and even weight distribution provide superior handling.
For consumers with urban commutes, Vectrix is both convenient and cost effective. The driver can stop and go with one hand by simply twisting the throttle back for acceleration and twisting it forward to slow down smoothly and safely. Fast acceleration and handling make it easy and safe to zip in and out of traffic|
|UK Traffic police are getting on eco-friendly, electric bikes in the first trial of its kind.
Two Maxi-Scooters will hit the streets of Portsmouth city centre to carry out patrols as part of the six-month trial.
Hampshire Police's fleet of vehicles clock up more than 15 million miles each year and the force hopes the zero-emission scooters will cut its carbon dioxide emissions.
The new battery-powered Vectrix Electric Maxi-Scooters are being tested as an alternative to traditional petrol-fuelled motorbikes for policing urban areas.|
|Despite the word comfortable in this recent announcement (Oct 17), the story itself appears to be an uncomfortable one on the quality control front:
Vectrix comfortable with current forecast to deliver 5,000 bikes in 2008 UPDATE
(Recasts, adds details on agreement with GB, R&D spend)
LONDON (Thomson Financial) - Vectrix Corp said it is comfortable with the
current forecast to deliver around 5,000 bikes in 2008, adding that the demand
for its MAXI scooters is ahead of its original expectations.
The zero-emission scooter company said sales to dealers and retail customers
in the Italian market have not translated into recognisable revenue as quickly
as anticipated, but it has made strong progress in extending its dealership
network in the US and Europe.
Last month, Vectrix had warned that sales of its MAXI scooter would be
significantly below market forecasts by the end of the year due to quality
issues in the production ramp-up and reworking of previously shipped bikes.
It had earlier decided to restrict the production of its MAXI scooter to not
more than 25 a day to address the quality issues, and had forecast total
production of 1,800 to 2,000 for the year to end-September.
In today's pre-close statement, the US-based company said it expects
production costs in the first quarter of 2008 to remain constant as compared
with 2007, and to be reduced to 9,150 usd per scooter later in fiscal year 2008.
On its joint venture with GP Batteries International Ltd, the company said
it will cease its contribution following an agreement to revise the structure of
their business relationship.
The 5.7 mln usd contributed to date to the project will be recorded as an
exceptional expense in its fiscal year 2007 financial statements.
Also, Vectrix will purchase the nickel metal hydride batteries directly from
GP Batteries, which will produce them from its dedicated production line. In
addition, the two companies will continue to collaborate on the development of
other new advanced electric storage products.
It also expects actual 2007 and projected 2008 research and development
spending to be in line with previous estimates. The 2008 research spending on
launches of new products will not be a material component of overall projected
research costs for the year.
The company will announce its full-year results on Jan 15.
Followed by this 2 weeks later:
Vectrix Corp says Di Biagio steps down as sales and marketing COO
LONDON (Thomson Financial) - Vectrix Corp said Carlo Di Biagio has opted to
step down from his executive role as sales and marketing chief operating
officer, effective Oct 24.
The zero-emission scooter company said Di Biagio will continue to serve as a
member of the board of directors, and that he will continue to work with the
company on a consultancy basis.
Vectrix Corp said Scott Williams, director of sales for the Americas, will
assume responsibility for worldwide sales, while Jeff Morrill, director of
marketing for the Americas, will assume global responsibilities for marketing.
|Looks to me as though this has some very serious players indeed involved. Stacks of cash, and possibly has suffered from a bad choice of NOMAD and PR etc.
Do they have a UK director?|
|Vectrix have a big stand at EVS23 in 7 weeks time.
US and worldwide media coverage of that whole show looks like being truly huge this year.
Publicity hasn't been a problem. Getting the price down has.|
|Anyone... thoughts on the appointment of Red Leaf http://www.redleafpr.com/
Is this a positive PR move for more media exposure ???|
|Mas - as readers of the EV thread will know, I am 100% convinced that electric vehicles (this time) will become not just mainstream but dominant within road transport. Tanfield has stormed ahead in that direction, Modec are out there too, as are Phoenix, and a bunch of lesser players in the small car and light van field.
I expect Vectrix to be one of several dozen others joining in - including eventually all the world's main vehicle makers. I think Tanfield's SmithEV division is nicely focussed on a specific market (the return-to-base fleet) and doesn't need anything else - but who knows ;o)|
|Interesting AIM newcomer.
MTG - Do you think that there could be synergies with Tanfield in due course !|
|No VRT reduction for green machine
Green Machines, Ireland's leading supplier of zero emission vehicles, have learned that the Vectrix Scooter, Ireland's only true 100 per cent emissions free vehicle, is not eligible for a VRT reduction under the Finance Bill.
Green Machines has called for a commitment to encouraging growth in this sector by immediately acting to remove VRT and reduce VAT on zero emission vehicles.
Green machines have, for the last five years, been leading the way in supplying Irish consumers with practical, environmentally friendly solutions to their daily commute. At present 19 per cent of the retail price of the Vectrix is tax.
Robert Nolan, Managing Director, Green Machines, said: "Unlike hybrids, which still produce substantial green house gasses, our Vectrix scooter, a 100 per cent emissions free vehicle, has been refused any VRT reduction. The Department of Finance informed us that VRT reductions are only available for cars as they are specifically mentioned in the Finance Bill. Under this logic a carbon producing hybrid vehicle will get a 50 per cent VRT refund, while a carbon free scooter will not, simply because it's not defined in any finance bill. We feel that with the carbon emission reductions that all Dáil parties seem to be committed to achieving over the next few years that they should all be encouraging consumers, businesses and county councils to switch from petrol run and for that matter hybrid vehicles to zero emission vehicles. At present the VRT and VAT constitute a substantial portion of the cost of retailing these vehicles. We believe the immediate removal of VRT and the reduction of VAT to 13.5 per cent from its 21 per cent present rate will encourage growth in this sector of the economy and ultimately have a positive impact on the environment."
He added: "I have to question the commitment that the Government really had to tackling the issue head on. I do not understand why they allowed a situation arise where a true zero emissions vehicle could ever be excluded from a reduction in VRT.
"We are challenging the next Government to immediately address this glaring oversight contained in numerous finance bills. Our industry is promoting a switch to a mode of transport that will have an immediate impact on the local as well as the Global environment. The reductions we are calling for will encourage a switch by the consumer to an environmentally friendly mode of transport."
PS: Ireland is not the only place where this anomoly occurs.|
|But 45p was a good price yesterday it appears in retrospect.|
|Yes it puzzles me that people like G-Wiz, who are doing a good job, have to make do with imported Indian cars that look reminiscent of a small Ambassador. The market is very fragmented and I would have thought something styled with some chic would be more acceptable to urban drivers, like a Smart car. As you say this scooter is well styled, appearance is everything, but will they be the ones out of so many that crack it? I don't think this stock will see a lot of trade at the moment.|