(MENAFN- ProactiveInvestors - Australia) Australian and UK listed Vmoto (ASX:VMT, AIM:VMT), the "green" electric powered scooter company is on track to produce 6,000 PowerEagle scooters by year end.
The manufacturer and distributor has produced and delivered 2,869 units to PowerEagle at the end of November 2012.
Vmoto has scheduled production of 6,000 PowerEagle units by year end.
Vmoto has commenced distribution trials with groups in Israel, Lebanon and Germany of its electric powered scooter.
Samples are en route to respective distributors and decisions to enter into formal distribution agreements, although this is not guaranteed at the time, and can typically take 6-12 months.
Australia
In Australia the Company is in the process of getting compliance approval for its new E-Milan, an electric version of its petrol Milan scooter, which has previously sold well.
All regulatory approvals for the E-Milan are expected to be given in H1 2013, following which the Company and its distributor will formally launch a marketing campaign in Australia.
Australian and UK listed Vmoto (ASX:VMT, AIM:VMT), the "green" electric powered scooter company is on track to produce 6,000 PowerEagle scooters by year end.
Vmoto specialises in high quality "green" electric powered scooters and manufactures a range of western designed electric (and some petrol) scooters from its low cost manufacturing facilities in Nanjing, China.
Vmoto combines low cost Chinese manufacturing capabilities with European design.
The manufacturer and distributor has produced and delivered 2,869 units to PowerEagle at the end of November 2012.
Vmoto has scheduled production of 6,000 PowerEagle units by year end.
Vmoto has commenced distribution trials with groups in Israel, Lebanon and Germany of its electric powered scooter.
Samples are en route to respective distributors and decisions to enter into formal distribution agreements, although this is not guaranteed at the time, and can typically take 6-12 months.
Australia
In Australia the Company is in the process of getting compliance approval for its new E-Milan, an electric version of its petrol Milan scooter, which has previously sold well.
All regulatory approvals for the E-Milan are expected to be given in H1 2013, following which the Company and its distributor will formally launch a marketing campaign in Australia.
Significant progress made
Recently, Vmoto was admitted to trading on the AIM-Market of the London Stock Exchange.
Olly Cairns, Non-Executive Director of Vmoto, commented: "The dual listing on AIM really compounds the turnaround year Vmoto has had.
Supply agreement
Vmoto won a Manufacturing and Supply Agreement signed with E-Tropolis GmbH, a prestigious electric scooter company in Germany.
The 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.
A minimum of 15,000 units will be produced pursuant to manufacturing and supply agreement.
Assuming E-Tropolis' sales reach those forecast as stated above, Vmoto will generate approximately $24 million in revenue from year 2013 to 2015.
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