28th Sep 2015 07:04
LONDON (Alliance News) - Chinese scooter manufacturer Vmoto Ltd on Monday said it has signed a new supply deal with US telematics company Saturna Green Systems Inc.
Under the deal, Saturna will conduct initial trials and after testing and financing, it intends to acquire a minimum of 32,000 units of Vmoto's E-Max electric scooters fitted with its telematics monitoring technology.
The agreement is for five years and will cover the scooters' use in Saturna's Electric Scooter Sharing Project.
Vmoto said the deal has a number of potential benefits for both companies, including the expansion of its products and Saturna's technology in the North American and European markets.
No financial details were disclosed.
"This international supply agreement with Saturna is another significant agreement for Vmoto and further highlights our competitive advantages in supplying reliable electric two-wheel vehicle products that meet international standards and the various requirements of international markets. Saturna's shared transportation system and technology are leading the transformation of electric vehicles into "smart" electric vehicles," said Charles Chen, Vmoto's managing director.
Shares in Vmoto were untraded Monday morning. It last closed at 13.99 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
VMT.L