News Summary

The French smart electric bike startup, Angell, is approaching bankruptcy due to severe manufacturing flaws in its bike frames. Founded in 2019, Angell aimed to innovate the e-bike market with smart features like integrated GPS and phone connectivity. However, reliability issues, particularly with the welding of the bike frames, have led to the insolvency of the company. Angell, which outsourced manufacturing to SEB and design to Kickmaker, is financially unable to recall or reimburse approximately 7,000 bikes. CEO Marc Simoncini announced the decision to pursue judicial liquidation, leaving current bike owners with potentially unsafe bicycles. This situation mirrors the recent financial struggles of other European smart bike manufacturers, such as VanMoof.