Vectrix may soon be back in business as Hong Kong-based GP Batteries has purchased the so-called New Vectrix company for $5 million. That sum is comprised of $1.75 million in cash and the assumption of up to $3.3 million in liabilities. The deal has reportedly been approved by a U.S. bankruptcy court, and apparently there were no rival bids for the company's assets.
Some Vectrix owners may be entitled to warranty coverage from GP Batteries, depending on when the scooters were purchased and claims were filed in relation to the company's bankruptcy. There's some chatter that the electric scooter may be reborn with lithium ion batteries, but no announcement on that front has been made. We'll take a wait-and-see approach and be patient to learn how things proceed under the new ownership.