Vectrix, the all-electric scooter maker, is heading for the exit.

The company has laid everyone off but essential staff, and they are staying on to file for bankruptcy proceeding, according to the company.

I rode this thing once (see masterpiece of video from 2007 here.). While it was a fun silent ride, the scooter had a big problem: an $11,000 price tag. For that, you can buy a good used car.

The scooter and motorcycle market is far smaller than the car market. Others have had issues too. Zero Motorcycles only recently came out with its delayed street-legal all electric bike and it sells for more than anticipated.

Still, the market holds promise. Motorcycles can get by with far smaller batteries than cars, so you could see the price come down considerably. Additionally, some megacities in Asia are passing regulations banning small gas engines, like the kind found on scooters.