VanMoof, an independent e-bike maker based in the Netherlands, has been declared bankrupt by a Dutch court, according to a statement released by the company. The company’s trustees will now seek a buyer for its assets in order to continue its operations. VanMoof, which was founded by two Dutch brothers and had positioned itself as one of the fastest-growing companies in Europe, experienced a surge in funding in 2020 and 2021 as the demand for cycling increased during the pandemic.
Despite the bankruptcy, VanMoof has assured customers that their bikes will remain functional, and efforts will be made to keep the app operational. However, the company advises customers to create a backup unlock code as unforeseen circumstances may arise. Currently, repairs cannot be conducted in the Netherlands, and the impact of the bankruptcy on other legal entities of the e-bike maker is being assessed.
VanMoof’s e-bikes, which start at approximately €2,000, feature integrated wiring and batteries within the bicycle structure. The company’s innovative approach and sleek designs have garnered attention and popularity among cycling enthusiasts. The bankruptcy announcement has left customers and industry observers awaiting further developments and hoping for a successful resolution that will allow VanMoof to continue its operations in the future.
SOURCE: Ref Image from Ripples Nigeria
Whether writing about complex technical topics or breaking news stories, my writing is always clear, concise, and engaging. My dedication to my craft and passion for storytelling have earned me a reputation as a highly respected article writer.