Wednesday, October 12, 2005
DULLES, US (Oct 12) - WaveCrest Labs, headquartered in Dulles, Virginia, has closed down their Light Electric Vehicle Division. On Friday, October 7th, the company issued a letter to all TidalForce dealers that WaveCrest is suspending sales of its TidalForce electric bicycle line in North America. The management promised that they will fulfill confirmed bike orders and continue to provide warranty and customer service support to existing customers. The letter also announced that TidalForce’s parent company, WaveCrest Labs: “Will continue to focus on development of world-class electric propulsion systems for vehicles and other applications”. According to reliable insider information, the company fired 30 people the same day the letter was issued. The only people that held on to their jobs, so the source, are one repairman and two customer service people. More on the current trends in Pedelecs and E-Bikes, see pages 23 to 25 in this issue. (SB)
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