September 1, 2023 - (Amsterdam, NED) Bankrupt Dutch e-bike company, VanMoof, has been acquired by Lavoie, the electric scooter unit of Formula One engineering and technology firm McLaren Applied for an undisclosed amount, reports Reuters and other news outlets.
The new owners plan to invest in VanMoof to stabilize the company and expand its business, while retaining VanMoof’s departmental managers, and would “engage and retain or rehire some of the great people” that worked there.
VanMoof, known for its sleek, minimalist designs, had raised more than $180 million from investors but was declared bankrupt on July 18. It sold around 200,000 electric bikes for more than 2,000 euros ($2,176) each before going bankrupt, partly due to high maintenance costs.
Read the full report here.
