VanMoofers, rejoice – the e-bike gods haven’t let you down. Yesterday McLaren Applied and its escooter division Lavoie announced that they had agreed to buy the liquidator E bike startup.
The details of the deal were not released. However, the F1 engineering and technology company said it would invest in stabilizing and expanding VanMoof’s existing business. This will be in the order of “tens of millions” of pounds in the short term, according to McLaren Applied chairman Nick Fry, quoted by Reuters.
“This is a huge opportunity for us [VanMoof] is a company with a brilliant product,” said Fry, adding that it was no picnic given the financial difficulties startup had agreed to it.
Perhaps the biggest shift in VanMoof’s operating model will be the abandonment of its purely in-house store and repair model. Instead, the bikes can be bought from third-party suppliers and, more importantly, serviced. Fry assured that the brand will remain the same and will benefit from the loyalty the record-funded startup has built over its early years of operation.
In a statement released Thursday, the buyers said they would “combine and integrate” the companies’ premium capabilities to create a “next-generation e-mobility business and establish a world-leading premium e-mobility offering.”
Building an e-mobility legacy based on F1 experiences
McLaren Applied used to be that Technology Division of the McLaren Group best known for its luxury supercars and elite motorsport vehicles. Acquired by British private equity firm Greybull in 2021, the company continues to provide advanced engineering and technology solutions for elite motorsports such as Formula 1 and a range of other transport modalities.
Founded by McLaren Applied, Lavoie announced its first electric scooter last year. It is available in two models – the Series 1 and Series 1 Max, with prices of €1,990 and €2,290 respectively. It is The tailor-made motor can deliver a peak power of 900 W and thus reach top speeds of over 40 km/h. The Samsung 21700 battery allows a range of over 40 km for the standard model and 60 km for the Max version.
It also features a patent-pending folding system inspired by racing car suspensions. It also comes in four different colors: Sunset Orange, Silence White, Electric Blue, and Racing Green. Deliveries are scheduled to begin in the fourth quarter of this year.
More details for VanMoof drivers next week
The news is sure to give VanMoof customers a sigh of relief – some of whom have yet to collect the $2,000+ bikes they bought and paid for.
Around 200,000 people feared that their bicycles would become unusable after the company filed for bankruptcy on July 18 – the previous models in particular suffered from quality defects.
“Obviously I won’t be able to get it fixed, and I doubt the one-year remaining warranty on my battery is worth anything,” said one VanMoofer (that’s a word, isn’t it?) by the time.
VanMoof’s trustees said in a statement that further details on the continuation of services for drivers would be released on Monday, September 4th.
TNW has previously covered the rise and fall of VanMoof and its impact on the e-mobility startup sector as a whole. Read more about the full saga and industry reactions to the aftermath Here.