Thank you for your support of the Type 506 project. Whilst it's disappointing that we ran out of money before we finished, I believe we still achieved a good result by being the first Czech electric vehicle to get homologation and subsequently manufacturing 60 electric scooters. It's a very complicated product and we made nearly all of it in the Czech Republic, which says something for the ability of the people involved. No similar crowdfunding project I know got as far as we did, or spent so little.
See Facebook history of project
Clearly, we were early in the market in 2018 and our ambitions were blunted by COVID in the factory, where we lost all key personnel in 2020. The business plan was also far too ambitious for the market conditions at the time. If we were starting in 2022, it would be a lot easier!
It's my great regret that I couldn't convince you to support my plans. Without agreement to any new business plan, our only option was to sell the project. And with no buyer coming forward, the sale will now happen through insolvency. I understand that you wished to continue searching for a buyer, but in the interests of the safety of the 506 owners I refused. It's simply not possible to wait and leave them without support for any longer.
For the record, here are public documents with details of our final meetings:
27.8.2020 First EGM - no agreement was reached
15.12.2020 Final EGM - no agreement was reached and company went into insolvency
After many difficulty meetings, now I'm happy to say your representatives Crowdberry and I have agreed on a financial settlement of all outstanding matters. It gives you everything according to what you requested.
Once again, thank you for your support - and finally, below, please read more about the great scooter you helped create.