Vanmoof in turmoil

End of the line for Vanmoof, which must bow out of the electric bicycle world after the two company directors filed for bankruptcy.

After 14 years since its creation, Vanmoof says farewell to the electric bicycle world. On July 17, the Amsterdam court delivered its verdict: the brand is bankrupt. 700 employees, who received an email announcing that the company is insolvent, have been notified, according to the media TheVerge. “We are terribly sorry to have to inform you that, despite all our efforts, we have not succeeded, and we had to file for bankruptcy.”

In Uncertainty for Quite a Long Time

In 2020, the manufacturer began experiencing financial problems. Then, in January 2023, a first “financial rescue” took place to save the company through numerous investors, but it was not enough to save the brand. Yet, in May, Vanmoof decided to release two new bicycle models, the S4 and the X4.

In recent weeks, things escalated. A suspension of electric bicycle sales, followed by a payment deferral, which ultimately led to the company’s bankruptcy.

What will electric bicycle owners of the brand do?

The future remains uncertain for owners. In the email sent to employees, it is mentioned, “We do not yet know what the future holds for us.” Initially, the bicycles rely on an app developed by the brand. A major issue, if the manufacturer cannot continue developing the app, users will not be able to use their bikes. However, a solution is being considered to allow customers to continue using their bikes. Vanmoof’s competitors, Cowboy, have developed an application that can be used by the owners of the Dutch brand’s bicycles.

Also read: VanMoof: Two new e-bikes for sale today!