From beacon of hope to bankruptcy
After the launch, disillusionment quickly set in. Production starts were postponed several times and the portfolio shifted increasingly away from motorcycles to e-bikes. Despite ambitious goals, the company never really gained a foothold and finally filed for bankruptcy in October 2024. Fuell thus joins the list of Erik Buell’s failed motorcycle projects.
Sold for a fraction of its original value
The entire company inventory, including trademark rights, internet domain, machinery, prototypes, and other equipment, was recently auctioned off by Heritage Global Partners. A total of around 185 items went under the hammer. The sale price achieved was around US$170,000 (equivalent to approximately €160,000). The company was originally estimated to be worth a significantly higher amount in the millions. The auction was more reminiscent of a garage sale than a classic company liquidation.
Debts remain largely unchanged
The proceeds covered only around two percent of the alleged total liabilities of US$7 million (approximately €6.6 million). The auction house alone retained US$38,000 (approximately €36,000) of this as a fee. Suppliers and other creditors are therefore largely left with their outstanding claims.
What was sold?
The sales package included the brand name, the associated websites, various tools, and a small fleet of Fuell models. These included the Flluid commuter e-bikes, which fetched between $1,150 (around €1,090) and $1,600 (around €1,520) each. Individual models with pedal assistance changed hands for less than $500 (approximately €475). At the end of the auction, only a few items, such as maintenance tools and office chairs, remained unsold.
Uncertain future
It is not yet known who ultimately acquired Fuell’s rights and technology. It also remains unclear whether the Fuell name will be revived in the future. However, given the low brand awareness and the failed business model, a comeback seems unlikely. In retrospect, Fuell remains another example of the challenges facing e-mobility start-ups. Erik Buell is now said to be devoting himself to other projects, in particular his music.
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