Vmoto inks supply deal with Canadian telematics company

LONDON (ShareCast) - (ShareCast News) - Vmoto (Other OTC: VMOTF - news) has inked a new international supply agreement with Canadian telematics company Saturna Green Systems Inc. The scooter maker said it has agreed to supply at least 32,000 of its E-Max electric scooters over five years for use in Saturna's electric scooter sharing project.

Vmoto said the deal had potential benefits for both companies, including growth initially in the North American and European markets and synergies between the two companies in electric vehicle technology and networks.

Managing director Charles Chen said: "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 Electric Scooter Sharing Project is expected to have a profound impact on electric vehicles as a daily mode of transport and aims to ease traffic congestion, air pollution, overcrowded public transport and parking issues in high density central business districts with a practical, affordable and fun riding experience for users." No financial details of the deal were disclosed.

At 1343 BST, Vmoto shares were up 14.4% at 15.16p.