Buying your company back out of administration is one way to do it.
Back in October, 2019, Arc Motorcycles entered administration just a couple of months after crowdfunding £950,000 (or close to $1.1 million). The company had previously been developing the ultra-premium electric Vector, a bike that Arc said would produce 133 bhp and 292 ft-lbs. of torque. Administration made it look unlikely that project would ever see the light of day.
What a difference a year makes, folks. Fast-forward to October, 2020, and Arc founder Marc Truman says the company is back in business. In an interview with MCN at the end of September, 2020, he revealed that he’d ended up buying the Arc assets himself when a search for buyers didn’t pan out.
Arc’s official website is now back online and taking reservations, and the company’s Twitter, Facebook, and Instagram pages all bear the same teaser photos from mid-September, 2020 forward. All three social media sites broadcast the announcement that the company is back in business, along with a link to read full details in the MCN interview.
Although the revived company webpage still says the first customer deliveries are expected in Summer, 2020, that information is clearly out of date. According to Truman, first deliveries should now roll out to customers in about 12 months—or approximately in or around Autumn, 2021.
“We are going to offer 10 customers a very special opportunity on the first 10 Vectors. I’m not revealing what this is just yet but watch this space,” Truman told MCN.
The original Vector plan included a couple of additional bells and whistles, in the form of a heads-up display helmet made by London-based luxury helmet maker Hedon, as well as a jacket co-developed with Knox that would provide haptic feedback to the rider. It’s unclear whether the new plan still includes these bits of kit, or even whether the finished bike will remain priced at the same £90,000 level. Incidentally, current conversion of that amount is nearly $117,000 in 2020; it was previously only (only!) $110,000 back in October, 2019. In any case, we’ll be sure to keep you up to date with any and all new Arc information as it arises.
Sources: Arc Motorcycles, MCN