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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Chrysler parent company Stellantis is sinking billions on electric Jeeps and Chargers that no one wants, but the they’ve developed market-leading EVs in Europe, and this latest, £36,995 DS Automobiles No4 is exactly the sort of electric crossover that could rejuvenate the brand’s American prospects. The only question now is: why won’t they bring it here?
Both the Dodge and Jeep-branded Stellantis EVs are being offered with huge discounts in a bid to generate some kind of market interest, but the company’s American product and marketing teams seem to be deeply confused about what the market actually wants. Over in Europe, though, Stellantis’ EVs are hot sellers – and this latest five-passenger crossover from the company is expected to steal even more sales from the Model Y.
The new all-electric No4 E-Tense model from Stellantis’ French brand DS Automobiles will be offered at three trim levels starting with the Pallas at £36,995 (approx. $48K US), rising to £39,160 for the Pallas+ and topping out at £41,860 (approx. $56K US, before incentives get applied) for the range-topping Etoile.
All three trims use a front-mounted electric motor rated at 213 hp, drawing from a 58.3‑kWh battery pack. That setup delivers up to 280 miles on the WLTP cycle (about 240 miles by EPA estimates). That feels like a lot of miles from a relatively small battery, aided no doubt by the DS No4’s aerodynamic. Inside the No4’s sculpted flanks is enough room for five adults and a bunch of their stuff, as well as an incredibly sexy dash and infotainment layout that (in the official press photos, at least) seems positively slathered in Alcantara (think “vegan suede”).
With 120 kW fast charging capabilities, the No4’s battery pack can replenish from 20 to 80 percent in under 30 minutes. Thanks to built‑in V2L/V2X tech, the No4 can also supply power back to external devices.
Electrek’s Take
I think it would be a hit. As for why the marketing gurus at whatever’s left of the old Chrysler corporation seem to think an electric muscle car that no one asked for or a Dodge-branded Alfa Romeo that no one will ever ask for is a better use of their marketing dollars – that’s simply beyond me.
Maybe you guys know? Check out these photos of the new DS No4, then scroll on down to the comments and let us know what you think of Stellantis’ US product plans, and whether or not they messed up canceling the Airflow after all.
SOURCE | IMAGES: DS Automobiles.
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The clock is running out on some of the best EV lease deals of the year. With the 25% tariff on imported EVs already hitting and the federal tax credit set to vanish after September 30, automakers are dangling some serious end-of-the-month offers. If you’ve been waiting to go electric, now’s the time. CarsDirect spotted three August EV price drops worth a look, but you’ll need to move fast, because these deals won’t last past the holiday weekend.
2025 Mercedes EQE SUV: $62 per month price drop
Mercedes is sweetening the pot on its EQE SUV as it works to move inventory. The 2025 Mercedes-Benz EQE 350+ SUV can now be leased for $629 a month for 36 months with $7,923 due at signing. That works out to an effective $849 a month – a $62 drop from previous deals. For a nearly $80,000 luxury EV, that’s not a bad offer.
But timing is key. The federal EV tax credit disappears next month, and Mercedes is set to pause US EV orders on September 1, which could make finding the right model tougher. Current incentives run through September 2, so if you’ve been eyeing an EQE, lock one in now before the market shifts.
Click here for a local dealer with the Mercedes-Benz EQE 350+ SUV in stock.–trusted affiliate link
Click here to find a local dealer with the Mercedes EQE SUV in stock.–trusted affiliate link
2025 Volkswagen ID. Buzz: $90 per month price drop
As of August 22, the 2025 Volkswagen ID. Buzz picked up a hidden $3,000 Dealer Lease Bonus – that is, dealer cash that only shows up if you lease.
That incentive knocks the Pro S trim down to $589 a month for 36 months with $5,999 due at signing. Do the math, and that’s $756 a month effective cost – a $90 drop from the earlier $846 offer. With $10,500 in total savings, this is the best deal yet on the ID. Buzz and one of the standout Labor Day EV lease offers.
Click here for a local dealer with the Volkswagen ID. Buzz in stock.–trusted affiliate link
2025 Hyundai IONIQ 5 N: $150 per month price drop
Hyundai just slashed the price on its most powerful EV yet. The 2025 IONIQ 5 N can now be leased for $549 a month for 36 months with $3,999 due at signing (10,000 miles a year). That works out to an effective $660 a month – a huge $150 drop from July.
For a track-ready performance car, that’s a steal. And unlike most performance machines, the IONIQ 5 N doesn’t guzzle gas – you can just plug it in overnight at home. Current offers run through September 2.
Click here for a local dealer with the IONIQ 5 N in stock.–trusted affiliate link
Read more: From $129 a month: 5 of the best EV lease deals in August
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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UK delivery firm DPD is putting one of Terberg’s heavy-duty electric yard tractors to the test at its giant, Oldbury, UK logistics hub – and its findings will help DPD shape a cleaner, more sustainable fleet strategy for the future.
DPD operates a fleet of over 50 yard hostlers (or “tugs” in the UK) to perform all trailer movements across its five sorting hubs in Oldbury, Smethwick, and Hinckley. Currently, those yards are serviced by a fleet of diesel tractors – but the company is interested in decarbonizing and “keen” to understand how EVs could be deployed across the fleet in the longer term.
“Tugs are the lifeblood of our hub operation, performing all trailer movements efficiently and safely across the five sites,” says Tim Jones, Director of Marketing, Communications, and Sustainability at DPD UK.
To that end, the company has deployed a Royal Terberg YT203-EV fitted with a pair of 78 kWh batteries, but it can be spec’ed up to 236 kWh and an almost unbelievable 105 tonne GCVWR. Even with “just” 156 kWh, the Terberg is able to work nearly a full 24 hours between charging – capability that is on par with diesel. At least.
“Terberg DTS are proud to be able to assist DPD on the way to Net Zero (emissions) and it was great to be able to work with DPD’s drivers and demonstrate what the YT203-EV can do in their own yard,” explains Peter Giles, Head of UK Logistics Sales at Terberg DTS. “Their aim is to be one of the leaders in the march to a more sustainable fleet future and they have already amassed a lot of knowledge and experience working with EVs. We know just how versatile and effective the vehicle is, but every operation is slightly different and working on-site with their own drivers means DPD can get really meaningful feedback from those who know the job better than anyone.”
Several operators will be trying out the YT203-EV across different shifts and operations to get feedback. So far, however, they seem hyped. “The electric tug (performs) incredibly well,” adds Jones. “Our drivers were really impressed, especially with the ease of use and driver comfort.”
Electrek’s Take
Whether it’s Terberg, Tico, or Orange EV, terminal tractors are an ideal application for electrification, and companies like DHL have spent more than a decade proving that out. And now that DPD is giving these HDEVs a chance, expect to see a whole lot more of them getting deployed soon.
SOURCE | IMAGES: DPD UK.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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