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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Bodo G-Wagon electric golf cart; via Mecum Auctions.
With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.
The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.
It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!
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It’s really nice in there
Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.
The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:
Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.
Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.
You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.
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The Hyundai IONIQ 5 got a raft of upgrades and sporty, rally-focused XRT trim level for 2025 – but the biggest upgrade for the Made in America Hyundai might be this: the 5 has regained eligibility for the full $7,500 federal EV tax credit!
Despite being assembled at Hyundai’s Georgia meta plant for the last four month, the 2025 Hyundai IONIQ 5 was nowhere to be found on the EPA’s list of rebate-eligible vehicles. But that was then – with a fresh updated to the list coming online May 1st, Hyundai’s new-age electric hot hatch is back in the rebate game.
As if to celebrate, Hyundai announced that it was taking on the celebrate One Lap of America road rayy and race event in a factory collaboration with the track-focused enthusiasts at Grassroots Motorsports this week with One Lap veterans Andy Hollis and Tom Suddard campaigning a stock, 601 hp 2025 Hyundai IONIQ 5 N in the Alternative Fuels class.
“After winning our class in a gutted, caged race car last year, we wanted to compete in the best-of-all worlds this year: A vehicle that’s incredibly fast, incredibly comfortable on a road trip, and incredibly capable on a racetrack,” explains Suddard. “Electrification means it’s finally possible to have huge power without huge compromises in a street car, and the IONIQ 5 N promises to pair that huge power with the durability and capability to survive a week of racing.”
One Lap is widely regarded as one of the toughest street-legal motorsports events in the world, pitting amateur and professional drivers alike compete in stock and heavily modified vehicles of every description, battling it out in a series of scored challenges, including timed events at road courses, drag strips, skid pads, and autocross courses.
In between tracks, competitors safely travel thousands of miles around the country, proving the mettle and durability of the vehicles and the teams that drive them. This year, 86 teams from all over the country will compete in 17 scored events over the course of eight days at tracks like Virginia International Raceway and NCM Motorsports Park.
The Tire Rack One Lap of America is currently underway – you can track the Hyundai’s progress here, then let us know what you think of this new tax development in the comments.
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With the launch of the first-ever Class 8 vocational EV in the North American market, PACCAR Kenworth is raising the battery-electric bar and underscoring just how far the market has come since the Tesla Semi made its debut nearly a decade ago.
When Tesla pulled the wraps off its all electric Semi truck all the way back in November of 2017, the rest of the industry was hardly thinking about BEVs. Nearly a decade later, the world is still waiting for the Semi to begin regular production, and PACCAR is launching its second generation of HDEVs with the debut of this, the all-new Kenworth T880E vocational truck.
“The Kenworth T880E marks a groundbreaking milestone in Kenworth’s history as we bring to market the first Class 8 battery-electric solution built for vocational applications,” explains Kevin Haygood, Kenworth assistant general manager for sales and marketing. “The T880E is engineered to meet the evolving needs of operators and vocational fleets while still providing the durability, reliability and customization our customers expect.”
The new electric K-whopper is motivated by PACCAR’s in-house ePowertrain platform, capable of putting up to 605 hp and 1,850 lb-ft of peak torque to work, while delivering the same levels of drivability and dependability fleets expect from a Kenworth – but power and torque are only part of the T880E’s work-ready résumé.
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Open to work
Kenworth T880E; via PACCAR.
In addition to a stout, Class 8 electric chassis fitted with heavy-duty Kenworth brakes and axles, the T880E’s central drive eMotor allows for significant wheelbase flexibility so fleet buyers can spec out exactly the machine they need to get the job done. The T880E was also designed to enable lift axle installations from trusted Kenworth upfitters for a vocational-friendly BEV integration.
Additionally, the T880E features a wide selection of factory-installed options that include both high- and low-voltage ePTO (electric Power Take Off) ports, mechanical ePTOs, and the same wide array of body configurations as the ICE version.
Speaking of the ICE version, the electric T880E also can also be had in the same set-back front axle and set-forward front axle configurations with the same multi-piece hood construction. Inside the cab, the latest in driver-focused technology includes the Kenworth SmartWheel and a new 15″ DriverConnect digital touchscreen. Dash and vocational features like RAM Mounts and factory-installed PTO switches are available. The T880E is also offered with Kenworth ADAS packages for customers interested in DigitalVision Mirrors, Bendix Fusion, and Lane Keeping Assist.
It’s so big, you guys
Kenworth T880E; photo by the author.
The T880E was on static display at last week’s ACT Expo in Anaheim, California. Check with your local Kenworth dealer for availability.
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