Known as the "Tesla of e-bikes" in some circles, the VanMoof e-bike brand is making its market. Now, with the upcoming release of its high-speed bike, the VanMoof V, fans are wondering if there's a way to get in on the action.
VanMoof isn't publicly traded, but that could change as the Dutch e-bike manufacturer heads toward a new product release amid a growing industry.
VanMoof to release its high-speed e-bike next year
The upcoming dual-motor VanMoof V has a top speed of 31 MPH, full suspension, and thick tires. It also features turbo boost, kick lock, and theft defense.
Currently, VanMoof V reservations are invite only, which means you need an access code. People in the general public can hop on the waitlist for a chance at access. Deliveries are still more than a year out. VanMoof expects to start distributing the bike at the end of 2022 in the Netherlands (VanMoof's home country), Germany, France, the U.K., and the U.S.
VanMoof V is expected to cost $3,600
The high-speed VanMoof V is currently priced at $3,598. Reservation requires a $20 upfront payment. Needless to say, this is a luxury offering in the range of the Peloton Bike+. Except, of course, the VanMoof V moves.
Will the VanMoof V be street legal?
VanMoof might be releasing a 31 MPH e-bike, but regulations might mean that riders can't actually go that fast. Many U.S. states have laws about how fast e-bikes can go. According to the company, VanMoof "intends to work with city governments to explore solutions from geofencing to revised speed regulations."
So far, electric transportation regulations have gotten contentious in areas like Santa Monica, Calif., where the city fought Bird Rides over its e-scooter offering and ultimately kicked the company out and left competitors Spin, Veo, and Lyft to take its place.
Growth on the horizon for VanMoof and the e-bike industry
Despite regulatory risk, the e-bike industry is on the move. By 2028, the global e-bike industry is poised to reach $48 billion in value. From 2019–2020, e-bike sales grew 145 percent. Even more, sales grew 240 percent in the 12 months ending July 31. For reference, that's about 16 times faster growth than the traditional cycling industry.
VanMoof has been around since 2009, so it isn't a brand-new competitor. Depending on how the VanMoof V release goes, the company could find an "in" amid industry growth.
VanMoof, a Series C private company, is considering going public.
VanMoof co-founders Taco and Ties Carlier are brothers and business partners—two elements that don't always mix. Over the years, the Carlier brothers have achieved five funding rounds through a Series C.
The company's Series B in September 2020 brought in $40 million. The Series C a year later, led by Hillhouse Capital Group, raised $128 million. In total, VanMoof has raised $189.1 million.
After the Series B, Vanmoof started discussing its dreams to go public. Although the company has yet to file, Taco Carlier told reporters that the ambitions are there. He estimated that the offering would come to fruition by late 2023–2024.