Vmoto: Difference between revisions
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The commencement of the relationship with Super Soco marked a shift in direction for the company, the company reducing its exposure to China from China in favour of western markets. |
The commencement of the relationship with Super Soco marked a shift in direction for the company, the company reducing its exposure to China from China in favour of western markets. |
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In February 2020, Vmoto formalised their strategic relationship with Super Soco, through the establishment of a joint venture, Vmoto Soco. As per the terms of this agreement, Vmoto gained international distribution rights over the Super Soco models, as well as its existing E-Max brand.<ref>{{Cite web|title = French Revolution 2020:Food wars down the virus haunted streets of France|url = https://www.goldandrevolution.com/french-revolution-2020-food-wars-on-the-virus-haunted-streets-of-france/|website = Gold and Revolution|access-date = 2021-12-09|date = 2021-11-17}}</ref> |
In February 2020, Vmoto formalised their strategic relationship with Super Soco, through the establishment of a joint venture, Vmoto Soco. As per the terms of this agreement, Vmoto gained international distribution rights over the Super Soco models, as well as its existing E-Max brand. Vmoto Soco also became the exclusive manufacturer of the Super Soco motorcycle range.<ref>{{Cite web|title = French Revolution 2020:Food wars down the virus haunted streets of France|url = https://www.goldandrevolution.com/french-revolution-2020-food-wars-on-the-virus-haunted-streets-of-france/|website = Gold and Revolution|access-date = 2021-12-09|date = 2021-11-17}}</ref> |
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In March 2021, a Memorandum of Understanding was signed with Bird Electric Mobility, of the Bird Group of India, for a test ride sharing project in India involving re-branded Super Soco Cux electric Scooters. |
In March 2021, a Memorandum of Understanding was signed with Bird Electric Mobility, of the Bird Group of India, for a test ride sharing project in India involving re-branded Super Soco Cux electric Scooters. |
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Revision as of 01:55, 10 December 2021
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| Company type | Public |
|---|---|
| Industry |
|
| Founded | 1999 in Perth, Australia |
| Founder | Patrick Davin |
| Headquarters | |
Area served | Australia |
Key people | Charles Chen |
| Website | Vmoto |
Vmoto is a manufacturer and distributor of electric motorcycles, based in Perth, Australia, with a manufacturing facility located in Nanjing, China.
The Nanjing factory of Vmoto produces the electric motorcycles of the Super Soco brand, and these are distributed internationally through the Vmoto Soco group, an entity controlled by Vmoto.
History
Founding and formation
The group has its origins in Vmoto Motorcycles, a scooter distributor business which was founded by Perth entrepreneur Patrick Davin in 1999. An ASX-listed company, the Optima group, acquired the Vmoto brand in 2006, and Davin was appointed as managing director the following year, after which the company took on the name of the motorcycle brand.[1]
A period of rapid consolation followed on from the Vmoto acquisition. At the end of 2006, Vmoto announced a formal agreement to acquire the Shanghai-based motorcycle trading and distribution company Freedomotor.[2] The managing director of Freedomotor, Charles Chen, joined the board of the company following the acquisition, which was completed on the first day of the new year.
In 2008 the company commenced the construction of a scooter assembly plant in Nanjing, China, which was completed the following year. In December of the same year, Vmoto entered into a strategic agreement with the German electric scooter company, E-max, initially acquiring a majority stake in the company, then taking full control of the company in 2010.
The acquisition of E-Max charted the long term path of the company, with electric two-wheelers remaining at the core of the Vmoto's future activities.
In November 2010, the Vmoto founder Patrick Davin resigned as managing director, to be replaced by Charles Chen, and Russel Goodman, the largest shareholder in the company, took up the position of Executive Chairman in the wake of the departure, only to be removed from his position early in the new year. Subsequently, the former Chairman made good on threats to liquidate his entire position in the company.[3]
The resignation of Davin and Goodman marked the beginning of an extended period of inertia for the company. An attempt in 2012 to gain a foothold in the Chinese market via an agreement with a Chinese automotive group seemed to initially offer promise, but the change of direction ultimately failed to revive the fortunes of the company, and the company floundered for several years thereafter.[4]
Partnership with Super Soco
In 2017, Vmoto entered into an informal partnership with an emerging Chinese EV company, Super Soco. An agreement was signed under which Super Soco relocated to the Nanjing manufacturing facility of Vmoto, which was not at full capacity. That year the two companies conjointly presented at the EICMA motorcycle event in Milan.
The commencement of the relationship with Super Soco marked a shift in direction for the company, the company reducing its exposure to China from China in favour of western markets.
In February 2020, Vmoto formalised their strategic relationship with Super Soco, through the establishment of a joint venture, Vmoto Soco. As per the terms of this agreement, Vmoto gained international distribution rights over the Super Soco models, as well as its existing E-Max brand. Vmoto Soco also became the exclusive manufacturer of the Super Soco motorcycle range.[5]
In March 2021, a Memorandum of Understanding was signed with Bird Electric Mobility, of the Bird Group of India, for a test ride sharing project in India involving re-branded Super Soco Cux electric Scooters. [6]
Brand re-launch
In November 2021, Vmoto initiated a brand re-design, employing their platform at the 2021 Milan EICMA motorcycle to re-boot the image of the brand. During the event, the company unveiled the first premium motorcycle model to be produced by the group, the Vmoto Stash, aimed at the European and North American markets.[7]
References
- ^ "Vmoto appoints co-founder Davin as MD". Sydney Morning Herald. 2007-05-30. Retrieved 2021-12-08.
- ^ "Vmoto buys into scooter manufacturer for $1.6m". Business News. 2007-05-31. Retrieved 2021-12-08.
- ^ "Dumped Vmoto chairman threatens to sell up". The West Australian. 2011-01-19. Retrieved 2021-12-08.
- ^ "Vmoto and PowerEagle form joint venture to increase market share of electric scooters in China". Australian Manufacturing. 2015-12-24. Retrieved 2021-12-09.
- ^ "French Revolution 2020:Food wars down the virus haunted streets of France". Gold and Revolution. 2021-11-17. Retrieved 2021-12-09.
- ^ "Bird ES1+ Electric Scooter To Cost Around RS 50,000; Launch Soon". India Car News. 2021-03-30. Retrieved 2021-12-09.
- ^ "VMoto unveils Stash, The Electric OEM's First Premium Motorbike". RideApart. 2021-11-24. Retrieved 2021-12-09.
External links
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