Insolvent e-bike company
Saved: Bicycle manufacturer Vanmoof finds a buyer – but many questions remain
It goes on: The takeover gives Vanmoof a perspective again.
© Vanmoof
Vanmoof has turned the corner. About a month and a half ago, the e-bike manufacturer had to file for bankruptcy and was therefore faced with an uncertain future. Now things should go on – albeit bumpy at first.
Supposedly there were many interested parties for Vanmoof, but in the end few offers – one hears. For the bankrupt manufacturer, things are actually moving on. The new owner of the brand is Lavoie, a manufacturer of electric kick scooters McLaren is financed.
About six weeks ago, Vanmoof had to file for bankruptcy after many difficulties – and closed all stores. This caused a stir worldwide, because not only were outstanding orders cancelled, but also bikes were left behind in workshops and customers were poorly or not at all informed.
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New Vanmoof owner promises no quick fixes
That could change again in the future, albeit slowly. Nick Fry, chairman of McLaren Applied, the British motorsports technology company that owns Lavoie, spoke to the New York Times about this. He stated: “What you cannot expect in the first few weeks are definitive answers to the problems”. This means outstanding deliveries, repair backlogs and certainly also the closed branches.
But in the press release, Lavoie CEO Eliott Wertheimer indicated that they wanted to continue the business and said: “Vanmoof has 190,000 customers worldwide and our goal is to keep these drivers on the road.”
The companies are silent about the price that Lavoie paid for Vanmoof. In the newspaper, Fry speaks of “amounts in the double-digit millions” that will be invested in the purchase and renovation. “It’s not going to be a walk in the park,” he said.
Vanmoof should open – much remains unclear
Even if many details have not yet been answered down to the smallest detail, Lavoie has apparently set clear priorities. The availability of spare parts is also on the to-do list, as is abandoning the previous strategy of only being able to repair bikes through the manufacturer.
Fry says it’s important to Lavoie to find other bike mechanics to help customers with repairs. In addition, he could imagine that Vanmoof bikes would also be put into circulation through conventional dealers. According to the “New York Times”, the quality of the wheels, which have apparently recently been quite vulnerable, is also an important issue.
It is still unclear what will happen to the money from customers who have paid for the e-bike they ordered but have not yet received it. According to Fry, no agreement has yet been reached with the previous owner on this issue. The fact that the current insolvency administrator charges up to 300 euros for the return of bikes to customers was not discussed (read more here). It would probably be advisable to wait and see what develops first.
Sources: Vanmoof press release, “New York Times”