Electric bicycles remain popular, but for many companies it is financially difficult. These laid low.
2024 was a difficult year for many electric bike manufacturers. Due to the aftermath of the corona period, fierce competition and excessive inventories, many companies were struggling financially. Not surprisingly, several manufacturers failed and went out of business.
We’ve scoured the “graveyard” of e-bike brands for you and listed some recent bankruptcies. We also give you a look at the chances of a relaunch.
Electric bike manufacturers that have gone bankrupt
These brands have all filed for bankruptcy. Are you hoping for a relaunch?
Stella: a million-dollar debt to the IRS
Stella’s bankruptcy is now a month old and didn’t really come into focus last year. The electric bike maker had to contend with falling demand, rising costs, increasing competition and a €5 million after-tax bill from the Inland Revenue due to erroneous VAT returns.
Despite these challenges, the bankruptcy was not an immediate end for the brand. Shortly after the announcement, 35 interested parties expressed interest in a restart. Last Monday it was confirmed that the brand will make a relaunch, but exactly which company will make the acquisition is not yet clear. To be continued.
A bike from Stella. (Image: Stella)
VanMoof: making your own electric bikes went awry
VanMoof, once a pioneer in the e-bike world, went for the strategy of making everything themselves. In better times that might have given them an edge, but now it’s actually causing problems. Think angry customers due to broken electric bikes, lenders disappointed by low returns and empty coffers.
Since 2023, the brand has been acquired by Britain’s McLaren Applied, which paid 900,000 euros for VanMoof. McLaren has big plans for the brand, but we have yet to see how they will get VanMoof back on track.
A Vanmoof. (Image: Vanmoof)
Qwic: light at the end of the tunnel
Qwic was struggling due to a stagnant market, too much inventory and a €12 million tax claim for parts from Taiwan. This threatened to bring down the brand. Fortunately, an unknown group of investors jumped in and saved Qwic from collapse.
This rescue allowed all 25 laid-off employees to return to work. With the support of the new investors, the electric bike maker now has a chance to put the problems behind it and get back to a fresh start.
A bike from Qwic (Image: Qwic)
Huyser: problems with suppliers
Dutch e-bike brand Huyser had to throw in the towel last month. After several good years, they could no longer keep up with falling demand after the corona years. There were also problems with a supplier from China and the assembly plant in Slovakia, which compromised the availability of the electric bikes.
Rising costs, such as those for new construction, and difficult market conditions caused Huyser to enter WHOA proceedings. All these problems eventually led to the difficult decision to discontinue the brand. Whether there will be a relaunch is still uncertain, but already eight investors have expressed interest.
A bike from Huyser (Image: Huyser Bicycles)
WATT Mobility: no electric bikes by Corona
WATT Mobility went bankrupt in October. Founder Frans Nomden indicated that the years following COVID in particular were severely disappointing. The global disruption of the supply chain caused considerable financial and organizational problems, which the company could no longer overcome.
Despite previous successes, it proved difficult to take the blows of market conditions. The company eventually had to close its doors. Whether there will be a relaunch is still unclear.
A bike from Watt Mobility (Image: Watt Mobility)
Advanced Bikes GmbH: a relaunch in 2025?
Advanced had plans to become the first climate-neutral e-bike brand starting in 2025. Unfortunately, that now seems far away, but in the Netherlands there remains high hope for a relaunch for the electric bike maker.
That hope comes from importer Ebike Factory, which says the company is not directly affected by the situation. The importer expects Advanced Bikes to make a restart and remains optimistic about the brand’s future.
A bicycle from Advanced (Image: Advanced)
