Friday, 12 May 2017

Is the JivR Bike an elaborate con?



Jam Vehicles who own the JivR Bike raised £160k on Crowdcube in 2013. The folding ebike is a great piece of design but also comes with a great big price tag and is not yet in production.

On their website, https://jivrbike.com/ , you can pay a small sum of Euro 99.00 to book your bike and then pay the rest of the Euro 2,499 when its ready. No time frame is given but we are told the deposit is refundable.

This all looks fine.

But then you should also know that the company, JAM Vehicles, is 5 months late with its accounts. Previous accounts showed the money had run out. A month or two is ok but five is more than careless? Maybe they are in the middle of a buyout?

For sure the money on deposit wont be returned if the accounts problem is genuine - so if you want a JivR Bike I'd be inclined to wait and see what happens.

2 comments:

  1. I see their site has a "featured in" section with logos for Forbes, BBC, Venture Beat etc. They can now add TTAECF to the list.

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  2. If the 99 Euros deposit has been paid by credit card then the card provider is jointly and severally liable for any breach of contract under section 75 of the the Consumer Credit Act. But I wouldn't pay 2,499 Euros for a folding electric bike no matter how clever the design.

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