Another great announcement from VMT. It's only a MOU but the potential in the Indian market is huge!

Highlights

• Vmoto has signed an MOU with one of India’s largest travel technology companies, the Bird Group, regarding the potential exclusive distribution of VMT’s CUX and CUmini range of twowheel electric vehicles (EVs) across India

• Subject to Bird Group’s technical evaluation of CUX and CUmini samples, Bird Group will order a minimum 10,000 units in the first year, representing a total sales value of approximately A$13.8 million

•India is the largest internal combustion engine (ICE) two-wheeler market in the world, having sold 162.6 million units between 2011 and 2020, and the Indian two-wheel EV market size is expected to reach USD750 million by 20251

• Current Indian government policies support the transition of the ICE two-wheeler to two-wheel EVs, including subsidies, stringent emission regulations and a proposed banning of ICE two-wheel vehicles

The release of three new models today announced by Vmoto. The market wasn't very excited about them but I was. They looked pretty cool to me! 

Since I added the straw below, Vmoto has gone from strength to strength. I have been a long term holder of Vmoto shares and have seen many changes in its fortunes. I have often looked at the dirty, noisy, petrol-driven scooters used by takeaway delivery guys and dreamt that one day they will all be riding Vmotos. The recent capital raise by Vmoto to capitalise on the worldwide increase in food delivery, as a result of covid, and (most) governments' push for cleaner forms of transport, has meant my dream is one step closer to fruition.

  Vmoto is a global manufacturer and distributor of high quality electric powered two-wheel vehicles. It owns a 30,000 sqm state of the art manufacturing facility in Nanjing, China and has a European sales, service and warehouse subsidiary based in the Netherlands. A recent agreement signed wit Ducati has seen a rerating of Vmoto shares but this overnight sensation has been several years in the making since the board made the decision to focus more on sales and marketing. Sales in Europe for 4Q18 are up 141% on 3Q18 and 587% on 4Q17 which, along with other higher-margin international markets, now account for 95% of sales. Vmoto recorded a positive EBITDA for FY18 and are confident of a successful FY19, supported by ongoing upward trend in sales to Europe. The FY18 revenue of $19.6 million, is up 30% on FY17. Management hold 12.1% of shares. The credibility of signing with a prestige European brand such as Ducati, should see other licensing deals made in the future.