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International

03/10/2019

The company behind the Arc Vector electric motorcycle has run into financial trouble. Arc Vehicle, based in Wales, entered administration on 4 September, with administrators Leonard Curtis appointed to take charge of the business.

The Vector was unveiled at EICMA in Milan in 2018 and the company planned a new manufacturing facility in St Athan, with Vector production set to start next year.

The administration was caused by "a couple of investors letting us down", said Arc CEO Mark Truman.

In July Arc completed an equity crowd funding campaign on investment website Crowdcube, raising more than £950,000.

"The Crowdcube funding round was successful and we had more than 1000 investors pledging over £1 million, but we didn’t take the money in the end," says Truman. "I didn’t want to take the money off ordinary people in the motorcycle community and find ourselves in the same boat in eight weeks."

The potential demise of Arc’s Vector is a blow for the electric bike market because its creators appeared to have solved many of the problems that beset alternative fuel vehicles – crucially power and weight. The claimed weight for the Vector was 220kg, thanks to its innovative carbon fibre monocoque chassis, and Arc also claimed that the latest battery tech gave it a range of 362 miles, with a recharge time of 45 minutes.

Performance was claimed to be 133bhp with 292ftlb of torque.

The firm being in administration does not necessarily mean the end of the project. "We have until 10 October to raise funds. We’re still here, still working and trying our best, but if we don’t manage to raise the money, then the administrators will begin the process of selling the business.

"We need an investor who is passionate about motorcycling and what we’re doing here," says Truman.