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Vmoto announces Chinese electric vehicles joint venture deal

Wed, 17th Dec 2014 14:04

Scooter manufacturer Vmoto announced its entry into the electric three-wheel and four-wheel vehicle market in China via a joint venture.The joint venture with a set of unnamed partners will focus on the design, manufacture and distribution of electric three-wheel and four-wheel vehicles.Vmoto will own a 20% stake in the new joint venture and will initially invest up to $1.5m.Managing director of Vmoto Charles Chen said: "Vmoto is very pleased with its proposed entry into the joint venture with a number of very experienced partners in the Chinese electric vehicle industry."As of 14:22 the firm's share price rose 8.75% to 2.28p per share
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