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Onyx Motorbikes is back, one year after its owner died leaving the company in shambles
Just over a year since James Khatiblou’s sudden passing, which left Onyx Motorbikes in financial disarray and with millions of dollars owed to creditors, the brand has been resurrected by its original founder Tim Seward. In a LinkedIn post yesterday, Seward announced the revival, stating “I’m excited to announce I have resurrected my original brand Onyx with incredible backers!” Additionally, he added that the company is now back in business.
The revived Onyx will initially offer approximately 100 units of its RCR electric dirtbike model. It remains unclear whether these are new production models or part of a previous batch made by Onyx’s Chinese supplier earlier this year and held in limbo after Khatiblou’s death. Seward failed to respond to TechCrunch’s inquiries regarding the company’s revival, including details on any investors that have backed its comeback.
Onyx Motorbikes initially gained popularity with its unique designs and US-made e-bike offerings. The RCR model was particularly popular due to its wooden body and powerful engine capabilities. Despite Khatiblou’s untimely passing, the brand still had numerous outstanding debts owed to creditors, including Kenneth Ames and Troy Smith, who together own 37.5% of Onyx LLC as per a 2019 operating agreement.
It is currently unclear whether these two individuals are involved in the revived company or its operations. TechCrunch has reached out to Ames and his counsel for further information but has yet to receive a response.
Source: techcrunch.com
