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Discussion in 'Electric Vehicles' started by dpeilow, Jan 8, 2009.
Is that UK speak for bankruptcy? That's a real shame.
Basically yes. They will be run by a firm of accountants who will try to find a buyer. If no one comes forward (and the time scales for this are normally a matter of a few weeks), the company will be broken up and assets sold off to try to pay back investors and creditors.
EDIT: This probably explains it better - http://en.wikipedia.org/wiki/Administration_(insolvency)
It's a little surprising because they already had well established product lines in the aviation market, but I guess everything is being hit right now.
Another nail for Zap-X?
What of Lightning, Volvo ReCharge, F150 PHEV?
Hi-Pa Drive - Projects and applications - PHEVs
Michelin strikes key 'e-wheel' deal ? Register Hardware
That guy never came back with any more info about Electric Motor Works Limited. I can probably find out something about them if I pay the £1 fee on the Companies House website, but I was hoping some other news might turn up first.