Vmoto Expands Electric Scooter Market Inroads in Europe
Electric powered scooter and OEM manufacturer Vmoto (ASX:VMT, AIM:VMT) has raced to the finishing line, producing 1000 units in excess of the initial forecasts of 6000 units as part of its OEM contract with PowerEagle.
The units delivered to PowerEagle in 2012 was in excess of forecasts and as at end of last year, it had delivered 6,300 units of PowerEagle electric scooters.
The company has installed and fitted new assembly lines in the manufacturing floor space of its Stage 2 manufacturing facility as it expands to meet the planned increased production target of 42,000 units of PowerEagle electric scooters this year.
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Agreement will see Vmoto produce three of E-Tropolis’ electric scooter models on an OEM basis, for a minimum of 15,000 units over 3 years.
PT. Garansindo Technologies will order a minimum of 17,500 electric scooters over a period of 5 years.
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