Electric motorcycle and scooter manufacturing and distribution group Vmoto (ASX:VMT) has today announced a worldwide licensing agreement with Italian luxury motorcycle maker Ducati.
Off the back of the announcement Vmoto saw its share price jump 77 percent, from 7.9c to 14c, making the stock the biggest gainer on the ASX at close.
Sold as official products under the Ducati licence, the product will be the first electric vehicles sold by the Italian motorbiking giant.
The SuperSoco CUx Special Edition Ducati model will be distributed via Vmoto and Ducati’s existing networks of international distributors.
Vmoto Managing Director Charles Chen commented on the significance of the deal and the impact of the partnership on the company’s ongoing international expansion.
“This is an exciting agreement for Vmoto and we are thrilled that Ducati – renowned for being a top-end manufacturer of Italian motorcycles – has agreed to associate its premium reputation and brand with our electric vehicles.”
“The deal will allow us to access Ducati’s worldwide distribution networks to reach new geographies and customers and further grow Vmoto’s brand and product awareness in these markets.”
“The release of these premium, limited-edition scooters will command higher pricing and profit margins and are expected to contribute to sales growth over the next two financial years.”
Headquartered in Bologna Italy, Ducati is well known for its production of luxury Italian motorcycles and is part of Volkswagen Group – the multinational automotive manufacturing group which owns well-known motor vehicle brands including Audi, Bentley, Bugatti, Porsche, Škoda, Lamborghini and Volkswagen.
The motorbike manufacturer’s entrance into the e-mobility sector is another strong indicator of the growing interest in two wheeled electric vehicles.
In 2018 in Europe alone, EV bike sales rose by an extraordinary 81.5 percent, a rise indicative of the growing interest amongst consumers and businesses for low cost, low emissions electric transportation.
The limited-edition model will be marketed as a higher-end, luxury product to scooter enthusiasts and will be available to the public until the end of 2020.
This content is produced by Star Investing in commercial partnership with Vmoto. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Don’t miss a thing, subscribe now