Vmoto up on Vietnam deal
UPDATE 2.40pm: Shares in Vmoto were higher after the scooter manufacturer announced an exclusive distribution agreement in Vietnam and unveiled a new "super light" scooter model.
Vmoto said it had signed an agreement with Euro Ebike Company to distribute, stock and market the company's Vmoto and E-Max range of electric scooter products in Vietnam.
The initial contract is for a minimum of 1200 units to be ordered by Euro Ebike by August 2015.
Vmoto said Vietnam's motorbike market is the fourth-largest in the world after China, India and Indonesia.
The company said it was in the process of developing and testing a new super light aluminium alloy frame electric scooter to be named Vmoto 1.
One of the most important features of Vmoto 1 is that its structure can be folded in 30 seconds, which makes it very portable to store at home or the workplace," the company said.
"Vmoto 1 will also be able to be plugged in to an Apple iPhone to play music or use Apple's iPhone Global Positioning System."
The company said it had also supplied sample models of its scooter to Kentfa Advanced Technology Corp for evaluation and promotion in Taiwan.
Vmoto shares closed up 0.5 cents, or 10.87 per cent, at 5.1 cents.
