Dutch electric bike maker VanMoof, whose popularity earned it the name “Tesla of e-bikes” but has faced financial problems, has been declared bankrupt by a court.
The company had raised 117m in September 2021 in an effort to expand as it rode a boom in the e-bike sector after the Covid pandemic prompted people to seek alternative means of transportation.
But it has struggled since then, with Dutch media saying it was plagued by bad publicity as bikes broke down frequently and repairs took too long.
Police are asking angry owners, who have sent their bikes to VanMoof for repairs, not to press criminal charges against the company for failing to return them, as it is not a criminal matter.
The Amsterdam-based firm lost almost 80m in 2021 an…
Read the full article at: https://www.rte.ie/news/2023/0718/1395204-ebike-dutch-bust/