Start-Ups Phoenix Motorcars, Vetrix on the Bankruptcy Ropes

Phoenix Motorcars, makers of the fleet Phoenix SUT and the Phoenix SUV, has filed for chapter 11 bankruptcy.

As word of their filing hit, Phoenix responded to autobloggreen.com saying the company was "going through a restructure of which we plan to be very straight forward and short in nature … We have not abandoned the alternative fuels transportation space."

Phoenix SUT
(Pictured: Phoenix SUT)

I have to admit that this actually makes me a little sad 'n sentimental. Phoenix was one of the first vehicles I featured here at FutureCars.com, and then, just as now, there was reason to be excited about the vehicle's lithium titanate NanoSafe battery system made by Altair Nano.

I believe Phoenix had been an entry in the Automotive X-Prize, but they are absent from the most recent listing of teams.

Of course, they're not the only start-up on the ropes, as Vetrix, makers of the Vetrix Vx-1 electric scooter is also in financial straits.

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