October 26, 2023 - In early Sept., bankrupt Dutch e-bike global company VanMoof was acquired by Lavoie, the electric scooter unit of Formula One engineering and technology firm McLaren Applied. VanMoof was acquired for an undisclosed amount.

Back in July, the cycling industry was stunned when VanMoof filed for Chapter 11 protection, and it soon after was declared bankrupt by the Amsterdam District Court when it could not secure financing.

Founded in 2009 by Dutch brothers Taco and Ties Carlier, the firm had raised more than $180 million from investors in 2021, claiming to be the “most funded e-bike company in the world.”

VanMoof soared during the pandemic, selling around 200,000 of its sleekly designed e-bikes for more than 2,000 euros ($2,176 US) each, but it struggled to shoulder the costs of repairs, long delivery times for bikes, and a shortage of parts.

The new owners plan to invest in VanMoof to stabilize the company and expand its business.