The final chapter for Fuell Inc., the electric mobility startup co-founded by legendary motorcycle designer Erik Buell, has closed with a disappointing bankruptcy auction. After filing for Chapter 7 bankruptcy in October 2024, the company’s remaining assets were liquidated for a minimal sum, highlighting the extreme financial risks within the EV motorcycle industry.
The Shocking Sale Price and Massive Debt
The public auction of Fuell’s assets, managed by a bankruptcy trustee, yielded approximately $170,000. This figure represents a fraction of the company’s liabilities and serves as a stark reminder of its financial collapse:
| Category | Financial Details |
| Total Auction Proceeds | 170,000 |
| Total Debt to Creditors | 7 million |
| Recouped Debt Percentage | approx 2% |
This paltry sum barely covered administrative costs, including the auctioneer’s fees and cleanup expenses, leaving virtually nothing for the thousands of secured and unsecured creditors.
What Was Sold at the Liquidation Auction?
The auction included key components necessary for anyone attempting to revive the brand, which may spark interest among competitors in the electric bike market and the e-motorcycle segment.
- Intellectual Property (IP): The most valuable non-physical assets, including the Fuell trademark, website domain (fuell.com), and numerous design patents for their electric saddle-type vehicles, sold for about $50,000.
- Physical Inventory: A small fleet of leftover Fuell Flluid e-bikes and the lesser-known Fuell Folld folding e-bikes were sold, along with bulk lots of components, machinery, and bike tools.
The Impact on Crowdfund Backers and the EV Market
Fuell’s demise is a critical crowdfunding failure and a cautionary sign for the urban electric mobility sector. The company successfully raised millions for its flagship products, the Flluid e-bike and the highly anticipated Fllow electric motorcycle, through crowdfunding platforms like Indiegogo.
- Lost Investment: The hundreds of crowdfund backers who pre-ordered the vehicles are considered unsecured creditors. Given that the auction proceeds were insufficient to cover even the secured debt, it is highly unlikely these backers will receive their products or a full refund, adding to the negative sentiment surrounding EV startup failures.
- Market Caution: The collapse underscores the intense production challenges, financial hurdles, and market volatility in the high-performance electric motorcycle space. Fuell’s failure, along with other recent EV startup bankruptcies, raises questions about the long-term sustainability of smaller, independent brands in a capital-intensive industry.
The sale of Fuell’s IP for a minimal amount leaves a potential opportunity for an established manufacturer to acquire the designs and technology, potentially bringing Erik Buell’s visionary electric vehicle concepts back to life under a new banner. For now, however, Fuell remains a stark example of promises left unfulfilled in the competitive race for electric innovation.
Sources
https://www.bicycleretailer.com/industry-news/2025/09/29/fuell-assets-auction-raises-170khttps://electrek.co/2025/09/30/bankrupt-e-bike-company-fuell-sold-at-auction-covering-2-of-its-outstanding-debts/https://www.visordown.com/news/erik-buells-fuell-e-bike-brand-sells-auction-170000https://www.rideapart.com/news/774831/erik-buell-fuell-electric-motorcycle-business-bankruptcy-sold/
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