Published on October 27th, 2015 | by Mojojojo Borras0
Mission Motorcycles Pulls the Plug, Files Ch. 7
The automotive and motorcycle industries are incredibly tough businesses. At one point, there were more than three hundred American car makers- and we’re down to just a handful, today, with more set to fail any time. Despite that, sometimes we have high hopes for transportation startups, and Mission Motorcycles was one of those. Sadly, it appears that Mission is no more.
Mark Seeger, the CEO of Mission Motorcycles, filed for Chapter 7 bankruptcy on October 15, 2015. Neither Mission Electric- a spin-off company that had hoped to provide powertrains to other aspiring EV-builders– nor Mission Motorcycles is in business any more.
Depending on who you ask, the company’s final downfall came after Apple poached a number of key Mission employees. Ben Rich, over at Green Car Reports, however, believes that it was simply “far more likely that employees decided to find better jobs upon realizing Mission Motors was unlikely to be sustainable.”
The arrival of a number of highly qualified vehicle engineers at Apple has only helped to spur rumors of an upcoming Apple car– but this should be a time to alk about Mission’s final days. In the end, Mission lost several key engineers to Apple, sure, but to other Silicon Valley companies, as well. After that, their financing fell through, and Mission Motors simply ran out of money.
Source | Images: Mission Motors, via Green Car Reports.