Zerosports is filing for voluntary bankruptcy after its 3.5 billion yen ($42.5 million U.S. at today's rates) contract to build 1,030 electric delivery vehicles for Japan Post was canceled. The electric vehicle (EV) builder claims it had agreed to make changes to the original specs of the delivery truck and, as a result, was late delivering the initial 30 units in January. Japan Post used the delay as a reason to cancel the agreement, leaving Zerosports holding the development-cost
mail
bag, so to speak.
With 1.1 billion yen ($13.35 million) in liabilities and unable to get further financing, 70 of the company's workers were dismissed this week, leaving only a few to tie up loose ends. For the fiscal year ending last August, Zerosports recorded a loss of 359 million yen ($4.36 million) on 553 million yen ($6.71 million) in sales.
For those who really wanted to see electric post delivery vehicles doing their thing in Japan there is still some amount of hope. Despite experiencing its own huge financial losses, Japan Post services says it still aims to add EVs to the postal fleet in the future.
[Source: Nikkei – sub. req.]
With 1.1 billion yen ($13.35 million) in liabilities and unable to get further financing, 70 of the company's workers were dismissed this week, leaving only a few to tie up loose ends. For the fiscal year ending last August, Zerosports recorded a loss of 359 million yen ($4.36 million) on 553 million yen ($6.71 million) in sales.
For those who really wanted to see electric post delivery vehicles doing their thing in Japan there is still some amount of hope. Despite experiencing its own huge financial losses, Japan Post services says it still aims to add EVs to the postal fleet in the future.
[Source: Nikkei – sub. req.]
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