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Vmoto gears up for another year of growth with electric-powered two-wheel vehicles

The company is primarily focused on increasing interest in European B2C and B2B markets.

Crowd at Vmoto launch at EICMA
Two new models were launched at the recent EICMA 2018 expo in Milan, Italy

Vmoto Ltd (ASX:VMT) expects another year of growth in 2019 after increasing global interest, and sales, of its range of high-quality electric-powered two-wheel vehicles in the past 12 months.

The company is particularly focusing on the large European markets where it aims to continue introducing more models to provide Europeans with more lifestyle experiences.

Vmoto manufactures a range of western-designed electric scooters from its wholly-owned 30,000 square metre state-of-the-art manufacturing facility in Nanjing, China.

Low-cost Chinese manufacturing capabilities are matched with stylish European design to provide high performance and competitive products to international markets.

READ: Vmoto Soco draws plenty of attention at major Italian expo

Vmoto recently attracted significant interest for its range when it exhibited at EICMA 2018 in Milan, Italy.

This two-wheel vehicle expo is one of the world’s largest and in its 76th staging this year drew more than 1,050 exhibitors from 34 countries and attracted crowds of more than half a million.

A large range of Vmoto distributed B2C  ‘green’ electric scooters and electric motorcycles were showcased and the company also launched the Super Soco CUX electric scooter and TC-Max electric motorcycle.

The launch attracted plenty of interest from the large contingent of media present along with a big crowd of show visitors.

During EICMA, Vmoto representatives were interviewed by the in-house video team.

Managing director Charles Chen stated that the company had only had its products in the marketplace for two years “and the reaction has been overwhelming”.

“We are also talking to other big-name companies in Europe regarding further distribution agreements including Ducati.

“Europe is the best ground to cultivate high-end brands in motorcycles and automobiles. No brand can do any good in the rest of the world if they cannot do well in Europe,” he said.

READ: Vmoto drives upward sales growth of electric-powered two-wheel vehicles

With servicing the large European market at the forefront of the company’s growth plans, the managing director said that European headquarters had been established in the Netherlands.

“The headquarters are supporting our distribution network in Europe, including marketing, sales and financing, where necessary.

“We will also be establishing a high-end technical centre. This will not only support distributors in after-sales service but will offer technical support to B2B customers to integrate technical matters into their requirements.”

Strong focus on R&D

Chen said that there were expert R&D technicians engaged in China, including some with vast experience with Honda.

“At our factory, we have the capability to produce more than 300,000 units every year and we are utilising the best advantages of China in terms of the supply chain.”

He added that in the short term, Vmoto aimed to establish a presence in most of the world's essential cities.

“To service this we are looking to establish another two factories, one in Europe and another in south Asia.

“Also, in 2019 we aim to launch our new model, which will be another major step in the company's growth.”

Vmoto operates through the below primary brands:

• E-Max - A Vmoto proprietary brand, targeting international B2B markets with a high-end premium product; and

• Super Soco - A third-party brand that Vmoto markets into international B2C markets.

Quick facts: Vmoto Ltd

Price: 0.305 AUD

ASX:VMT
Market: ASX
Market Cap: $68.55 m
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