Ave Bankrupt, Restart Likely
OBERPFRAMMERN, Germany – Development Engineering GmbH – maker of Ave branded e-bikes – applied for insolvency last month. There are strong rumors that Pantherwerke AG is to continue Ave.
Development Engineering’s bankruptcy is said to be triggered by the poor market conditions of the past year. It prevented further sales growth of Ave e-bikes. Next to that the company was hampered by delivery delays in 2012/2013.
Stronger commitment to Ave
This followed on the company’s stronger commitment to e-bikes and its Ave brand. That stronger focus was made possible after Development Engineering founder and general manager Stephan Hahn sold his trendy kids bike brand S’cool to Axel Böse (former Bico GM) who also owns the kids bike company Coolmobility GmbH.
That stronger focus on Ave became visible at Eurobike 2013. Here Development Engineering presented a greatly expanded Ave e-bike range. Most 2014 models featured the new generation of Bosch mid-motors in product categories named Touring, Urban Sport, Offroad and Mobility.
Take-over by Pantherwerke
The Development Engineering GmbH insolvency is handled by receiver Dr. Michael Jaffé of the Munich, Germany based company Jaffé Rechtsanwälte. As said, a restart of Ave looks likely as there are widespread rumors in Germany that Pantherwerke AG already bought the brand name. As yet Development Engineering as well as Pantherwerke did not want to confirm this take-over..