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McLaren's e-mobility division Applied Ltd has agreed to buy Dutch e-bike maker VanMoof BV, which went bankrupt after failing to repay loans to investors.
Lavoie, which makes €1,990 e-scooters, plans to "bring stability" to VanMoof's operations and expand its electric vehicle business with the acquisition, according to Thursday's announcement.
Appointed trustees have been set up to investigate whether VanMoof's operations can continue after the Dutch electric bike company was declared bankrupt in July. VanMoof had difficulty paying back loans provided by investors and was forced to close some of its stores before the firm went out of business.
