News Release
For Immediate Release
Media Contact:
Gary Kimball
Kimball Communications
Phone: 610-559-7585
Email: [email protected]
Vectrix Signs Consumer Financing Agreement For Its
Family Of Personal Electric Vehicles With Sparta
Commercial Services
Trailblazing agreement provides first-ever consumer financing and municipal
lease programs to purchasers of Vectrix VX-1, VX-1E and VX-2 family of
Personal Electric Vehicles
Middletown, R.I. — February 12, 2009 —Vectrix Corporation (www.vectrix.com), the world
leader in highway legal, two-wheel Personal Electric Vehicles, today announced that it will offer
consumer financing through Sparta Commercial Services. Under the agreement, financing for
consumers will be available for all three Vectrix models at Vectrix dealers across the country, as
well as for government agencies wishing to lease vehicles for their fleets.
The Vectrix flagship VX-1 model is sold through Vectrix dealers nationwide and used by a
growing number of police and university fleets. This spring, Vectrix will introduce two new
models, the VX-1E and the VX-2, both with lower prices designed to make Vectrix available to a
wider audience.
“We’re excited to offer consumer financing through the power sports specialist Sparta
Commercial Services, providing consumers and Fleet purchasers with options that make it easier
than ever to ride a Vectrix,” said Mike Boyle, Vectrix President and CEO. “We already have the
largest nationwide dealer network of any electric vehicle manufacturer and offer the only true
product family of electric road vehicles. With consumer financing in place, we are well
positioned to continue our growth and make Vectrix available to more and more people.”
“Sparta Commercial Services is pleased to form this new relationship with Vectrix to
provide Financing of the Vectrix product line. This first-ever program places Sparta at the front
of the electric conversion revolution,” said Anthony L. Havens, Sparta President and CEO. “We
have a corporate commitment to provide financing that encourages advanced, entrepreneurial
technologies and products that promote an improving environment. We look forward to working
with Vectrix and its Dealer organization in launching this exciting new program.”
In December 2008, Vectrix rolled out the 2009 model of its flagship VX-1, with a new line
of accessories that make the vehicle accessible to a wider range of customers—particularly
women—including a lower, narrower seat to accommodate riders with smaller frames. It has an
MSRP of $10,495.
Engineered to provide an eco-friendly, powerful alternative for commuting and
recreational needs, the highway-legal VX-1 reaches top speed of 62 mph, offers acceleration
from 0-50 mph in 6.8 seconds and has an average range of 30-55 miles on a single charge. It
offers minimal maintenance, simple operation and low noise, and features sophisticated design
efficiencies including a high-efficiency gearbox and drive train, aluminum construction for
weight reduction and long life and aerodynamic styling to reduce drag. The VX-1 weighs 515
pounds and seats two comfortably.
VX-2 is a smaller and more compact electric equivalent of a 50cc internal combustion
engine (ICE) bike with a weight of 429 pounds. It features a 40-50 mile range and 30-mph speed
capability. VX-2 is expected to arrive to dealers in June and the MSRP is $5,195.
VX-1E uses the same platform and drive train as the original VX-1, yet features a lower
price point and a more urban commuter driver profile with slightly less acceleration and top
speed. VX-1E is expected to arrive at dealers in April, and the MSRP is $8,495.
The all-electric Vectrix models plug into a standard 110V/220V outlet and offer safe,
near-silent operation. They are extremely economical, running at just one cent per mile and the
equivalent of 357 miles per gallon, compared with 14 mpg for a leading SUV and 46 mpg for a
leading hybrid car. Leading gas-powered motorcycles and scooters range from 52 to 87 mpg.
Vectrix is showing its family of Personal Electric Vehicles at the Dealer News
International Power Sports Dealer Expo in Indianapolis, Ind., February 13-15, 2009.
About Vectrix Corporation
Vectrix Corporation was formed in 1996 to develop and commercialize zero emission vehicle
platform technologies focused on two-wheel applications. The single focus of Vectrix has been
to provide clean, efficient, reliable and affordable urban transportation. Vectrix two-wheel zero
emission vehicles currently are being marketed to consumers and government fleets. Vectrix
Corporation has headquarters in Middletown, R.I., engineering and test facilities in New
Bedford, Mass., sales offices in the UK and production facilities in Wroclaw, Poland.
About Sparta Commercial Services
Sparta Commercial Services, Inc. (www.spartacommercial.com) is an Internet-based acceptance
(sales finance) and leasing company dedicated exclusively to the power sports industry,
concentrating on motorcycles over 600cc, 4-stroke all-terrain vehicles, and select scooters
through our programs for manufacturers, distributors, and dealers. Sparta provides a full line of
financing solutions including indirect retail installment sales contracts and direct closed-end
leases, as well as related services.
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