Vmoto Limited
(ASX:VMT) is set to enter the electric three-wheel and four-wheel markets through a joint venture company to tap into growing demand.
The scooter manufacturer says the JV company will be incorporated with a number of experienced partners in China’s electric vehicle market.
Vmoto is poised to own a 20 per cent equity interest in the JV at an initial cost of up to $1.5 million in the first 12 months.
The JV will focus on design, manufacture and distribution of electric three-wheel and four-wheel vehicles for Chinese domestic and international markets.
Vmoto reported a net profit of $211,000 in the first half of the 2014 calendar year.
