Leading electric bike maker VanMoof is betting that the cost of living crisis will push more consumers to buy its products instead of cars, sounding a rare positive note as soaring inflation weighs on businesses globally.
Co-chief executive Ties Carlier said that the Dutch manufacturer was targeting more city commuters as high fuel costs and the continuing squeeze on consumers’ wallets force many to look for cheaper alternatives to cars and public transport.
Although VanMoof has had to pass some inflationary costs on to customers, the rising cost of living “is very good” for the company, Carlier told the Financial Times.
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