Lavoie, the electric scooter unit of McLaren Applied, has announced its acquisition of Dutch e-bike maker VanMoof, which recently declared bankruptcy. The terms of the purchase were not disclosed, but it is expected that tens of millions of pounds will be invested in VanMoof to stabilize and expand its business in the short term. McLaren Applied Chairman Nick Fry expressed confidence in VanMoof’s product and stated that the company would retain departmental managers and employ some of VanMoof’s previous staff. The new management plans to abandon VanMoof’s in-house retail store model and instead use third-party retailers to sell and service bikes, with the aim of reaching new markets globally.
VanMoof, known for its sleek designs, sold around 200,000 electric bikes before going bankrupt due to high maintenance costs. The company raised more than $180 million from investors, including private equity firm Hillhouse and venture capital fund Norwest Venture Partners.
McLaren Applied will now sell new models that VanMoof had developed but was unable to bring to market before bankruptcy. The company recently launched its premium Lavoie e-scooter brand, with deliveries set to kick off in the fourth quarter of this year. Fry also mentioned that Lavoie will sell e-bikes under the VanMoof brand and is considering rebranding its own scooters under the same name.
The sale of VanMoof to Lavoie has been confirmed by the court-appointed trustees overseeing the bankruptcy process, who expressed satisfaction with the outcome. More details regarding the continuation of services provided to VanMoof riders will be announced after September 4th, according to the trustees.
Overall, this acquisition presents a significant opportunity for McLaren Applied to expand its presence in the electric mobility market and revive the VanMoof brand.