Electric vehicle supplier Vmoto (ASX: VMT) has unveiled two new electric scooter models and its range of newly built machines for 2020 at this year’s Esposizione Internazionale Ciclo Motociclo e Accessori (EICMA) Motorcycle Show in Milan, Italy.
Vmoto presented the E-Max VS1 and the Super Soco CPx scooters to thousands of spectators and millions more via online channels and said it designed the models with the European market in mind, and in particular, the food delivery sector.
According to Vmoto, the E-Max VS1 is its latest business-to-business electric two-wheel vehicle targeting commercial customers including food and parcel delivery companies.
The scooter has been purposefully designed for food delivery with Vmoto declaring that it has received “significant interest” from existing and potential customers to purchase the E-Max VS1 for international distribution including Europe, South America, Asia Pacific and Africa.
In parallel, the new Super Soco CPx electric scooter is targeting the business-to-consumer sector with international distribution also planned to over 40 countries.
“These two bikes have been in the works for a while now and it is exciting to be able to finally unveil them to the public,” said Vmoto’s managing director Charles Chen.
Mr Chen also described the past year as being “fantastic for the company’s growth” with strong commercial results reported earlier this month.
Vmoto experienced a doubling of its sales in Q3 2019, largely on the back of the Chinese market – currently the world’s leader with over 60% of total global sales in the electric scooter niche.
“We are confident that the release of these two superior electric scooters will ensure our growth continues during the next quarter and beyond,” said Mr Chen.
Vmoto has also recently announced strong cashflow numbers and has reported in excess of 4,000 new orders for new scooters.
Moreover, following a high-profile deal with Ducati to manufacture a special edition electric scooter for Ducati, the company has delivered 400 units for sale to the public.
World’s largest motorcycle show
EICMA is considered to be the most important trade fair event two-wheel vehicles and hosts illustrious manufacturers such as Honda, Yamaha, Kawasaki, BMW and Ducati.
The trade show is an important event for the entire industry as it gives companies such as Vmoto a direct stage to showcase its products, paves the way for all industry participants to approach new foreign markets and consolidate existing operations.
Perth-based Vmoto has manufacturing operations in Nanjing China and a European distribution warehouse in the Netherlands.
Currently, the company has one of the widest global distribution networks of any electric scooter manufacturer in the world, being represented by more than 30 distributors in 29 countries in Asia, Europe, North America, South America and South Africa.
Vmoto chose this year’s event to showcase two new models and to reveal upgrades to its existing bike range.
The 2020 version of its TSx bike will sport a new and more powerful electric engine, upgraded from 1,200 to 1,800 watts.
“The bodywork maintains the streetfighter look with the gritty and modern lines of the TS, while its aesthetics provide a more aggressive look that stands out from its peers,” the company said.
The TC-Max 2020 bike has also undergone a significant power boost, increasing from 3,000 to 3,500 watts enabling the bike to reach speeds of 95km per hour.
The improvement means the new TC-Max will have the equivalent performance profile of a 125cc internal combustion engine, but with the significant advantage of having lower operating costs given that it runs entirely on batteries rather than petrol.
Last but not least, Vmoto’s CUX scooters have also been given an extensive performance uplift. The 2020 model year CUX has been taken up from 1,300 to 2,000 watts and includes new features such as retractable passenger footpads as well as being available in additional colours compared to previous years.
News of an expanded and power-boosted product range helped Vmoto’s shares to add over 23% to $0.16 in morning trade.