European Subsidiary BionX Ceases Operation
SALMDORF, Germany – E-bike rear hub motor pioneer BionX Canada Inc. was forced to file for bankruptcy on 27 February this year. At that time its European subsidiaries BionX GmbH and Elby Bike Europe GmbH were not affected. Since then, BionX GmbH has been searching for a European motor producer. Without success. BionX GmbH officially announced to close down after ten years. The sales were already discontinued on 10 December 2018.
2018 was full of ups and downs for German-based BionX GmbH. After an unsuccessful investor search its parent company BionX Canada Inc. filed for bankruptcy. Last June its European sister companies announced to continue operation even if the North American BionX operation and production was closed down.
BionX intellectual property sold
End of October 2018 the responsible receiver of the insolvent BionX Canada Inc. sold the company’s intellectual property, including patents, trademarks, software and domains as well as remaining inventory with court approval to Amego Electric Vehicles Inc. and its nominee Leisger Cycle Inc. The court order did not specify the exact relationship between the two buyers, the Toronto/Canada based e-bike retailer Amego Electric Vehicles Inc., and the Suzhou based e-bike drivetrain producer Leisger Cycle Inc.
Apparently it was not possible to sell BionX Canada’s subsidiaries, including Germany-based BionX GmbH. And when buyer Leisger Cycle indicated that there will be no further cooperation with BionX GmbH it became clear: There is no other solution than closing down the European BionX business too. Warranty and guarantee claims will be processed until the beginning of 2019. The liquidation is expected for next year’s first quarter.
Elby Europe and Canada continue
Both Elby Bikes Canada and Elby Bikes Europe GmbH will continue their operation. According to BionX marketing manager Sabrina Rill, “Elby Bikes are currently being delivered ‘while stocks last’ with BionX drivetrains. Future spare parts supply is also secured via Elby Bikes. The question what drivetrain Elby Bikes will specify in the future will be clarified in the coming year.”