In an unfortunate turn of events, Velo Mobile company, has declared bankruptcy. This development follows Veemo's admission that it could not confidently predict when it would be able to begin deliveries of the eagerly anticipated Veemo SE model.
Veemo's bankruptcy filing was officially made on January 23, at 3 p.m., according to a statement by the Vancouver accounting firm Grant Thornton. As per protocol, all creditors have been duly notified of this development, with a first meeting of the creditors set to take place on February 7.
Velo Mobile's journey started in 2016 with the launch of Veemo. Despite numerous design refinements over the years and a promising start, escalating market challenges and logistical issues have unfortunately culminated in this outcome.
Now, with the bankruptcy declaration, all existing orders will be cancelled, and refunds will be processed for all our customers. This includes reservations for the Veemo SE.
Veemo's rise and fall is a story of innovation, challenges, and an unflinching dedication to an eco-friendly transportation vision. We deeply regret any inconvenience our bankruptcy may cause our customers and appreciate the trust and support that you have bestowed upon us over the years.