Envo Drive Systems, a maker of e-bikes and e-vehicles for snow, water and 4-wheeling, has acquired fellow Canadian e-mobility brand Veemo from its sole creditor, Velo Metro and its namesake, Velomobile, with plans to release product for Summer 2024 under the tentative name, Envo Veemo.

“A few years ago, we started a project at Envo called Velo Mobile, a project that has focused on developing a product whose features and specifications address deficiencies across the micro e-mobility space, like the desirability of the product, size, weight, quality of ride, noise, safety, transportability, and after-sales services,” said Envo founder and CEO Ali Kazemkhani. “But while we’ve made substantial progress, Veemo was well ahead and offered the best project in this field, thanks to the excellent teamwork among their top-of-the-line engineers, plus ten years of experimental research and development. The Veemo is extremely well-developed in weight, stability and ergonomics; equally important, it’s a great-looking product that’s super fun to ride.

“The news about Velo Metro’s [VM, Veemo’s parent brand] bankruptcy wasn’t good news for the industry or the planet because the world needs products like this. However, we at Envo are confident we have solutions for the problems Veemo had been experiencing bringing the bike to the market, and we plan to deliver this product to the market by next summer.”

Dale Brubacher-Cressman, the sole creditor of Velo Metro, added, “I am thrilled to partner with Envo Drive Systems to bring Veemo to market. Through their engineering and supply chain management expertise, energy and drive, Ali and his team have built an exceptionally successful company in the fiercely competitive e-bike and e-scooter market. Envo has been designing, building and selling innovative electric mobility vehicles for many years and poised for continued success.”