The West

Vmoto sees new opportunities

UPDATE 1.45pm: Shares in Vmoto were higher after the electric scooter maker announced it had opened three new retail stores in China, had received an order from Brazil's national postal service and was pursuing other new market opportunities.

Vmoto said it now had 13 retail stores in southern China and was in discussions with manufacturers and distributors in the north of China to establish a presence there.

The company said trading was continuing in line with management expectations.

Vmoto said it expected to benefit from Chinese government policies encouraging the use of electric vehicles to help ease pollution in the country's major cities.

The company said it had begun delivery of 150 units for the Brazil's national postal service, which was aiming to replace half of its 14,000 fleet of petrol motorbikes with electric scooters by 2017.

Vmoto said it was also pursuing new opportunities in Italy, Hong Kong and China.

Shares in the company were up 0.5 cents, or 13.89 per cent, to 4.1 cents at the close.

The West Australian

Popular videos

Our Picks

Follow Us

More from The West