Turkish ride-hailing provider BinBin wants to acquire Dutch bicycle manufacturer VanMoof | Economy

VanMoof was declared bankrupt over a month ago. The company ran into problems due to the need for large investments for all bicycle parts that were developed specifically for VanMoof. The company also faced higher-than-expected warranty repair costs and significant international growth spending.

But according to BinBin, VanMoof is very interesting for a reboot. “With a clean, simple design and a battery built into the frame, the bikes have become popular on the streets of Amsterdam,” the company said in a statement. The Turkish company, which is a subsidiary of 1000 Yatirimlar Holding, wants to complete the VanMoof deal in the coming weeks. No financial details of the offer were disclosed.

BinBin actually acquired Go Sharing earlier this year. The green shared scooter and bicycle rental company has been active in more than ten municipalities, including Almere, Groningen and Tilburg. Until early February, green scooters and bicycles disappeared from the streets. Thanks to the intervention of BinBin, which is active in six countries, it was possible to continue the activities.

Reuters news agency reported last week based on a person familiar with the matter that Lavoie, the electric scooter brand of the British company McLaren, is also competing to acquire VanMoof. McLaren, famous in Formula 1, wants to achieve further growth by taking over as a premium brand in the electric vehicle sector. Since VanMoof was founded, 190,000 bicycles of this brand have been sold worldwide. VanMoof had its own stores in twenty cities around the world.