“VanMoof on the verge of bankruptcy,” we wrote just a week ago. Last Wednesday, the company was granted a two-month payment postponement by the Amsterdam court, but, in the meantime, the court has declared the Dutch e-bike manufacturer VanMoof bankrupt.

Despite their ambitious plans to develop the perfect city bike and “get as many people on the bike as possible”, the two brothers Carlier went broke.

Unique product

VanMoof, founded in 2009 by Taco and Ties Carlier, produced hip and trendy e-bikes for urban use. The first e-bike was launched in 2016. The brothers designed and developed all parts and software themselves instead of outsourcing it as many other manufacturers do. By keeping everything in their own hands, they wanted to create a unique product.

However, profit was not forthcoming. Year after year, the manufacturer of the trendy e-bikes ended up in the red. The company’s market share was also very small. A recent survey by the market research office Multiscope revealed that less than 1% of e-bike owners in the Netherlands had a VanMoof bike. The most popular e-bike brands, according to the study, were Gazelle (19% market share), Stella (13%), and Sparta (11%).

A debt of 30 million euros and more

Last week, we mentioned that the company had not been selling or delivering new bicycles for months and that all the VanMoof shops were closed. So the question remains whether people will ever see their newly ordered bikes or get their money back – a VanMoof e-bike costs €3 500.

VanMoof already had a debt of 30 million euros. This amount will increase considerably now that creditors, including duped customers, who have already paid for their purchase, must report to the trustees.

What will happen next?

Today, it is still unclear what will happen next. Will the bikes remain usable? Will the VanMoof app still be operational to lock and unlock the bikes? And who’s going to maintain the bikes?

Customers will have to wait for the possible acquisition process. “And if there is no buyer, customers risk losing their money,” says consumer organization TestAankoop/Test Achats.

‘Bikey’ app

In the meantime, the Belgian bicycle manufacturer Cowboy, a direct competitor of VanMoof, developed a new app called ‘Bikey’. Th Bikey app allows VanMoof users to unlock their bicycles.

According to figures from the RAI Association, the Dutch Association of Bicycle and Automobile Industry (Nederlandsche Vereniging Rijwiel en Automobiel Industrie), more than 2,9 million electric bicycles were sold in the Netherlands between 2016 and 2022. Most vehicles were sold in Corona year 2020.

The rising popularity of the e-bike is also reflected in the average price of new bicycles sold: it went up from 743 euros in 2012 to 1 772 euros in 2022.