Eco-electric vehicle firm Hire a Twizy has ceased trading, it has been confirmed.
“Despite best efforts and due to the lack of hire revenue in the 2016 season, twinned with very high running and maintenance costs the business is clearly not viable in the New Forest or on the Isle of Wight. “The failure is considered to be due to:
- Extremely high costs of leasing the Twizys, some of which proved to be unfit for purpose.
- The funding being delayed from June 2015 to October 2015, leading to a loss of revenue for the 2015 season.”
As Isle of Wight Radio reported this week, the firm had stopped taking bookings through its website. Hire A Twizy was partly funded with public money, in the form of a £36,000 grant.