Exclusive: FUELL announces bankruptcy, offers ‘cold comfort’ to stranded e-bike customers
FUELL Inc., the electric bicycle and e-motorcycle startup built largely on the name of the legendary motorcycle visionary Erik Buell, has entered into chapter 7 bankruptcy proceedings.
For some time now, I’ve been attempting to chase down answers from the electric bicycle maker FUELL regarding the company’s failure to deliver on its popular Flluid-2 and Flluid-3 e-bike launch and the company’s seemingly incommunicado status. After wading through bounced-back emails from apparently terminated marketing staff, I finally got an answer in the form of a reply to a direct inquiry to the company’s CEO, Francois-Xavier Terny.
However, that reply didn’t come from Terny himself, but rather the lawyer who I learned is now representing FUELL in its new bankruptcy proceedings, which were filed yesterday.
Below is the text of the letter I received.
October 17, 2024
To the creditors of Fuell Inc,
I am currently representing Fuell Inc. in a chapter 7 bankruptcy proceeding filed in the U.S. Bankruptcy Court for the Eastern District of Wisconsin on October 16, 2024 as case #24-25492. A trustee has been appointed to liquidate the assets of the Company. All creditors will be advised to file claims in that proceeding as it appears that there may be assets for payment of unsecured claims after all of the secured claims are paid or otherwise dealt with. A copy of the Notice of the Case is posted nearby.
Management regrets the Company has been forced to take this path. Unfortunately, the Company lacks funds to pay for the labor costs and other required services necessary to assemble and ship products to its customers, and additional funds could not be raised to pay the Company’s outstanding current liabilities or to pay for the assembly and shipment of pre-ordered electric bicycles. I hasten to add that the Company has on hand what it believes to be the parts necessary for the assembly of the bulk of, if not all of the pre-ordered electric bicycles.
After consultation, management has determined that a promptly filed chapter 7 was the best way to provide value for the significant assets held by the Company including, but not limited to, a purchase from the bankruptcy trustee of substantially all of the assets of Fuell Inc. by an interested party who may subsequently, with effort and negotiations, potentially restart the operations and move forward. Obviously, this is the route preferred by management, but it is complicated and fraught with risk. Any creditor or interested party that has such an interest should be contemplating retaining experienced bankruptcy counsel to negotiate with the Trustee for such a purchase.
As the Company has little to no funds, and no employees, it is unable to directly answer creditors’ questions concerning specific orders. Creditors may direct questions to the Trustee who will be apprised of the situation. Since there are no employees at the Company to respond to questions at this time, current inquiries to the company will go unanswered.
All known creditors will receive the notice of the bankruptcy filing and advised to file claims. If you have placed a deposit for the purchase of a product, your claim may be entitled to priority to an extent. You may want to consult with a lawyer on this issue.
Great effort is being made to provide enough information in the bankruptcy schedules so that there is at least a possibility that a potential purchaser of the assets may be able to restart the Company or otherwise redeploy the assets to produce the product intended. Current equity will lose everything that is been invested in the company through this chapter 7 bankruptcy filing.
We trust that this information may be of some cold comfort to you as a creditor of the Company and will certainly give you an idea of what you can expect in the immediate future. As indicated above, you will be notified of the bankruptcy filing as a creditor or other interested party.
If you have an interest in purchasing the assets through the bankruptcy process or know of anyone who may have such an interest, you may contact the Trustee or the undersigned to discuss potential avenues to accomplish that.
Sincerely,
PAULG. SWANSON
Attorney at Law
The deadline for claims to be submitted has been set for December 26, 2024, as described in a notice that accompanied the above letter from Fuell’s lawyer.
Chapter 7 bankruptcy is a legal process in the United States that allows individuals or businesses to eliminate most of their unsecured debts by liquidating non-exempt assets. A court-appointed trustee oversees the sale of these assets, and the proceeds are used to pay off creditors. It’s often referred to as “liquidation bankruptcy” because assets are sold off to settle debts.
In this case, the trustee for FUELL’s bankruptcy is Titania D. Whitten of Whitten Law Offices in Wauwatosa, Wisconsin.
FUELL Inc. was founded in 2019 as a novel electric bicycle and motorcycle company, quickly gaining momentum after is unveiling of high-performance, innovative electric bikes designed for urban commuting. Founded by Erik Buell, a legendary figure in the motorcycle industry, FUELL focused on combining sleek design, advanced technology, and sustainability in its electric mobility offerings.
The company’s first electric bicycle model, the Flluid-1, was widely deemed a success, but controversy swirled around FUELL’s Flluid-2 and Flluid-3 models, which raised over US $1.5M in crowdfunding through an Indiegogo campaign but failed to deliver at scale.
Not long after the campaign ended, I had the chance to test ride one of several early production Flluid-3 electric bikes at Eurobike 2023. At the time, the bike worked quite well and promised a refined commuter experience. However, the company explained that the Valeo internally geared mid-drive motor was a sticking point in production, requiring further custom modifications and slowing down production.
A steady stream of updates slowed to a trickle over the next year and eventually stopped entirely, leading many to worry that the project had been abandoned or that the company was headed for bankruptcy.
Several other high-profile e-bike company bankruptcies added fuel to the fire, with yesterday’s announcement finally bringing closure to the question, though certainly not to the hundreds of customers likely never to receive their FUELL Flluid electric bicycles.
With just over two months left for creditors to make a claim in the bankruptcy filing, hopefully those customers will be able to recover some or all of their money.
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Forget fumbling with cables or hunting for batteries – TILER is making electric bike charging as seamless as parking your ride. The Dutch startup recently introduced its much-anticipated TILER Compact system, a plug-and-play wireless charger engineered to transform the user experience for e-bike riders.
At the heart of the new system is a clever combo: a charging kickstand that mounts directly to almost any e‑bike, and a thin charging mat that you simply park over. Once you drop the kickstand and it lands on the mat, the bike begins charging automatically via inductive transfer – no cable required. According to TILER, a 500 Wh battery will fully charge in about 3.5 hours, delivering comparable performance to traditional wired chargers.
It’s an elegantly simple concept (albeit a bit chunky) with a convenient upside: less clutter, fewer broken cables, and no more need to bend over while feeling around for a dark little hole.
TILER claims its system works with about 75% of existing e‑bike platforms, including those from Bosch, Yamaha, Bafang, and other big bames. The kit uses a modest 150 W wireless power output, which means charging speeds remain practical while keeping the system lightweight (the tile weighs just 2 kg, and it’s also stationary).
TILER has already deployed over 200 charging points across Western Europe, primarily serving bike-share, delivery, hospitality, and hotel fleets. A recent case study in Munich showed how a cargo-bike operator saved approximately €1,250 per month in labor costs, avoided thousands in spare batteries, and cut battery damage by 20%. The takeaway? Less maintenance, more uptime.
Now shifting to prosumer markets, TILER says the Compact system will hit pre-orders soon, with a €250 price tag (roughly US $290) for the kickstand plus tile bundle. To get in line, a €29 refundable deposit is currently required, though they say it is refundable at any point until you receive your charger. Don’t get too excited just yet though, there’s a bit of a wait. Deliveries are expected in summer 2026, and for now are covering mostly European markets.
The concept isn’t entirely new. We’ve seen the idea pop up before, including in a patent from BMW for charging electric motorcycles. And the efficacy is there. Skeptics may wonder if wireless charging is slower or less efficient, but TILER says no. Its system retains over 85% efficiency, nearly matching wired charging speeds, and even pauses at 80% to protect battery health, then resumes as needed. The tile is even IP67-rated, safe for outdoor use, and about as bulky as a thick magazine.
Electrek’s Take
I love the concept. It makes perfect sense for shared e-bikes, especially since they’re often returning to a dock anyway. As long as people can be trained to park with the kickstand on the tile, it seems like a no-brainer.
And to be honest, I even like the idea for consumers. I know it sounds like a first-world problem, but bending over to plug something in at floor height is pretty annoying, not to mention a great way to throw out your back if you’re not exactly a spring chicken anymore. Having your e-bike start charging simply by parking it in the right place is a really cool feature! I don’t know if it’s $300 cool, but it’s pretty cool!
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Tesla has launched a new software update for its vehicles that includes the anticipated integration of Grok, but it doesnt even interface with the car yet.
Earlier this week, CEO Elon Musk said that Tesla would integrate Grok, the large language model developed by his private company, xAI, into its vehicles.
Today, Tesla started pushing the update to the fleet, but there’s a significant caveat.
The automaker wrote in the release notes (2025.26):
Grok (Beta) (US, AMD)
Grok now available directly in your Tesla
Requires Premium Connectivity or a WiFi connection
Grok is currently in Beta & does not issue commands to your car – existing voice commands remain unchanged.
First off, it is only available in vehicles in the US equipped with the AMD infotainment computer, which means cars produced since mid-2021.
But more importantly, Tesla says that it doesn’t send commands to the car under the current version. Therefore, it is simply like having Grok on your phone, but on the onboard computer instead.
Tesla showed an example:
There are a few other features in the 2025.26 software update, but they are not major.
For Tesla vehicles equipped with ambient lighting strips inside the car, the light strip can now sync to music:
Accent lights now respond to music & you can also choose to match the lights to the album’s color for a more immersive effect
Toybox > Light Sync
Here’s the new setting:
The audio setting can now be saved under multiple presets to match listening preferences for different people or circumstances:
The software update also includes the capacity to zoom or adjust the playback speed of the Dashcam Viewer.
Cybertruck also gets the updated Dashcam Viewer app with a grid view for easier access and review of recordings:
Tesla also updated the charging info in its navigation system to be able to search which locations require valet service or pay-to-park access.
Upon arrival, drivers will receive a notification with access codes, parking restrictions, level or floor information, and restroom availability:
Finally, there’s a new onboarding guide directly on the center display to help people who are experiencing a Tesla vehicle for the first time.
Electrek’s Take
Tesla is really playing catch-up here. Right now, this update is essentially nothing. If you already have Grok, it’s no more different than having it on your phone or through the vehicle’s browser, since it has no capacity to interact with any function inside the vehicle.
Most other automakers are integrating LLMs inside vehicles with the capacity to interact with the vehicle. In China, this is becoming standard even in entry-level cars.
In the Xiaomi YU7, the vehicle’s AI can not only interact with the car, but it also sees what the car sees through its camera, and it can tell you about what it sees:
Tesla is clearly far behind on that front as many automakers are integrating with other LLMs like ChatGPT and in-house LLMs, like Xiaomi’s.
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Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev
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