This article was last updated on November 21, 2023
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Qwic Declares Bankruptcy Amidst Stagnating E-bike Demand
Once again a Dutch manufacturer of electric bicycles has gone bankrupt. After VanMoof earlier this year, Qwic is now going under. Last week, the Amsterdam brand was already granted a deferment of payment.
Now bankruptcy has also been declared for parent company Hartmobile, it appears the Insolvency Register of the judiciary. Qwic’s curator could not yet be reached for a response to the bankruptcy.
“After years of strong growth in European e-bike sales, we have seen a trend break since the summer of 2022,” the company said earlier in an email to business associates. trade site Nieuwsfiets quoted from. “Demand for e-bikes is stagnating, which has left retailers saturated and sales prices under pressure.” Qwic had existed since 2006 and said it sold around 200,000 bicycles.
In addition to these market conditions, Qwic was also confronted with an additional assessment from Customs of 12 million euros in import taxes for parts from Taiwan. “This impending additional tax makes it impossible to refinance the organization in the short term,” the company said last week.
Impact on Repairs and Warranty
Qwic bicycles were sold through approximately 750 sales points. It is still unclear what exactly will happen to the warranty and repairs of bicycles. “We are still discussing how we will deal with this,” says an employee of Urban E-Bikes in Amsterdam, one of the sellers of Qwic bicycles.
He does expect that repairs will remain relatively easy. The brand uses many more universal parts from major manufacturers than VanMoof, which had almost everything made in-house. “You don’t have to order everything in terms of maintenance from Qwic, that is the big difference with VanMoof.”
Warranty Process for Qwic Bicycles
For Qwic bicycles sold through stores, those stores are responsible for the warranty. “We then claim again from Qwic,” says Stan Evers of Zoevers bicycle shops in Nijmegen.
He simply continues to repair Qwic bicycles under warranty, even if it is uncertain whether Qwic pays bills. “There are many parts that we have in stock or can order elsewhere. Only the battery and a few other parts are brand-specific.” He hopes for a quick restart. “It is a beautiful brand, it would be a shame if it were to become defunct.”