The consequences of the pandemic, war and economic downturn - the reasons for the insolvency of Dutch bike manufacturer Vanmoof could be very different. But the fact is that the company is now bankrupt. Vanmoof has been declared insolvent by the Dutch courts. The management is currently looking for ways to sell assets to third-party companies under the supervision of two trustees in order to be able to continue the business, according to reports.
Vanmoof was founded in 2009 by the brothers Ties and Taco Carlier and has seen itself as a bit of a Tesla among e-bikes. The models therefore also have the reputation of being "hipster bikes", but this does not seem to have affected the sales figures. The company also recently raised an investment of 12.5 million euros from London-based venture capitalist Balderton Capital and electronics supplier Sinbon Electronics.
However, it is also a fact that Vanmoof has been making losses with its bike sales for years, which it has been able to absorb thanks to investors. However, insolvency was only narrowly averted at the end of 2022. As the Dutch company was no longer able to pay its debts, a court granted a moratorium on 12 July. This has now been cancelled as part of the insolvency notification.
Speculation about the reasons for the bankruptcy has been rife in the media ever since. According to Wikipedia, Vanmoof had 180 employees in Amsterdam and 290 worldwide in 2019. Another source claims that there were almost 900 employees. There is also an extensive network of shops in Europe, the USA and Asia. Both could be enormous cost guzzlers that could not be compensated for by the pure sale of e-bikes.
Vanmoof recently sold three different product ranges: The S-series includes electric bikes with a conventionally designed frame. The X-series, which was replaced by the A-series in 2022, includes e-bikes with smaller wheels and transport devices. The V-series includes a high-speed bike that travels at 50 km/h.
Some of Vanmoof's best-known products are the S3 and X3 series e-bikes - they are constantly being improved through over-the-air updates. As recently as 9 May 2023, the company unveiled the new S4 and X4 series. New, bright colours, the Gen 4 front hub motor with turbo boost and anti-theft protection.
Marc Strucken
Editor
