STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Nick Carey and Toby Sterling
Lavoid and McLaren Applied did not disclose terms for the purchase, but McLaren Applied Chairman Nick Fry told Reuters that including the capital needed to stabilize VanMoof there would be an investment of"tens of millions" of pounds"in the short term." Fry said McLaren Applied - bought from McLaren Group by private equity firm Greybull Capital in 2021 - would retain VanMoof's departmental managers and would"engage and retain or rehire some of the great people" the Dutch e-bike maker employed.
VanMoof was declared bankrupt on July 18. It sold around 200,000 electric bikes for more than 2,000 euros each before going bankrupt, partly due to high maintenance costs.
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