Ask anyone in the tech startup world and they'll tell you that the number one obstacle to success is funding. That’s true no matter what the product is. Getting a new company, or even just a new product, up off the ground always takes more money than you initially think it will. Arc Vehicle Ltd. is learning that the hard way, having entered administration—that's Queen's English for "bankruptcy", by the way—on September 4, 2019. This is only two months after they crowdfunded more than £950,000 ($1.1 million).
For a refresher, Arc Motorcycles was developing the all-electric Vector, a bike with 133 bhp and 292 ft-lb of torque that would cost £90,000 ($110,000). That sounds like a lot of money for a motorcycle, and it is, but supposedly there’s more to the Vector than just sticker shock and big electric torque figures. There’s a carbon fiber monocoque chassis to keep the weight down to just 485 lbs, which oddly enough is the exact same weight as the Zero SR/F, another electric motorcycle that costs about $90,000 less.
The Vector is really about the bells and whistles, though. It comes with a helmet co-developed with Hedon, a London-based luxury helmet designer. That helmet has an integrated heads up display, so you get to feel like you’re a fighter pilot every time you head out. Also included is an armored jacket developed with Knox that includes haptic feedback. That haptic feedback can give the rider information on dangers, bike position, or even play music. Whether you want your jacket vibrating to tell you things is up to you.
As for what the administration process means, Arc Vehicle Ltd. has until October 10, 2019, to raise the money needed to keep the business afloat. If they’re unsuccessful at that, the process will begin to start selling off the business.