McLaren Applied’s Lavoie Buys Bankrupt E

The Vanmoof BF headquarters in Amsterdam, Netherlands.

McLaren Applied Ltd’s e-mobility unit has agreed to buy Dutch e-bike maker VanMoof BV which went bankrupt after failing to pay back loans to investors.

Lavoie, which makes €1,990 ($2,160) e-scooters, plans to “inject stability” into VanMoof’s operations and expand its e-mobility business with the acquisition, according to a statement on Thursday. No financial terms have been disclosed.