Australian listed electric motor scooter manufacturer Vmoto (ASX: VMT) is making waves with the announcement of record sales and a breakthrough alliance with the prestigious Ducati motor cycle brand.
The company, which makes electric scooters in China and sells globally, sold 3,821 scooters worldwide in the March quarter, 57 per cent up on the December quarter.
At the same time Vmoto announced it would build and distribute a 2-wheel CUX special Ducati edition under a worldwide licensing agreement.
Ducati is one of the world’s most prestigious motor cycle brands, and is owned by Volkswagen Group.
The new Vmoto, to be marketed as a high-end, luxury product to consumers at a premium price, will carry the Ducati brand.
Vmoto managing director Charles Chen is understandably excited about the Ducati tie-up, which will initially run until the end of 2020.
Chen said: “This agreement will allow Ducati’s fans to have the opportunity to access premium and high quality 2-wheel electric vehicles and create more confidence in Vmoto.
“The release of these….electric vehicles are expected to contribute to sales growth over the next two financial years.”
Ducati director, Graziano Milone described the tie-up as an ‘excellent industrial project’.
“I am very happy to have contributed to the realisation of this project.
“Vmoto has been able to better interpret the needs of the European consumer by promoting quality products and sophisticated design.”
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