Vmoto set to take a slice of a $40 billion global market
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Special Report: In 2027, the global electric two-wheeler market could be worth about $40 billion. The ASX’s only electric two-wheeler manufacturer, Vmoto (ASX:VMT) is poised to capture a significant slice of that pie.
The electric two-wheeler market will grow at 8 per cent each year to reach $39.69 billion by 2027, according to a recent report from Cadence Research.
Vmoto’s recent financial results show a company that is well on its way to capturing a share of this emerging market.
It’s half-year results, released in August, revealed a 96 per cent increase in revenue to $16.9 million, and a 147 per cent increase in profit to $362,000.
An especially strong second quarter saw international orders rise 94 per cent year-on-year to 4452.
The company has also expanded international distribution network to include Argentina and Mexico, and inked a partnership with famed luxurious motorbike brand Ducati.
Charles Chen, the company’s managing director, told Stockhead
“After nearly a decade of sector sedimentation, we’ve finally seen the global electric mobility market take off. We are extremely happy with the growth we have achieved to date and are confident that we are on the right track to continue to deliver material developments going forward.
We just presented at an exhibition in early October and are excited for the impending release of our Emax branded products which will be rolled out to customers globally.”