Coventry-based luxury electric brand Arc, responsible for the Vector model, has announced that it has filed for bankruptcy.
Arc V Ltd was founded in 2020 and delivered 11 electric motorcycles to customers before going into liquidation. High-profile customers include Hollywood actor and entrepreneur Ryan Reynolds, as well as Middle Eastern royalty.
The company said it was close to completing EU homologation and had already received support from the government’s Department for Business, Energy and Industrial Strategy (BEIS) and the Office for Low Emission Vehicles (OLEV) to develop a new dual motor with integrated inverter for future electric motorcycles.
Having announced the support at the end of 2023, things were going well for the British company – which released a rendered image of three motorcycles and a four-wheeled off-road vehicle, while also stating that they were working on a range of battery-powered machines.
In addition to government support, Arc has been self-financing motorcycle projects through design and engineering consultancy work through Arc Design.
Although Arc V Ltd has been in business since 2020, the story actually stretches back seven years. Before that, there was Arc Vehicle Ltd, which started at the beginning of 2017 but went into administration in September 2019. Truman bought back the assets to keep the project alive.
It’s not known exactly what’s next for the brand in the near future.
Source:https://www.motorcyclenews.com/news/2024/april/arc-motorcycles-liquidation