TIDMVMT
RNS Number : 3435A
Vmoto Limited
28 September 2015
VMOTO ENTERS INTO NEW INTERNATIONAL
SUPPLY AGREEMENT
ANNOUNCEMENT 28 SEPTEMBER 2015
KEY HIGHLIGHTS
-- Vmoto has entered into a new international supply agreement
with Saturna Green Systems Inc ("Saturna"), a North American
Telematics high-tech company, focused on developing
state-of-the-art wireless shared transportation and communication
systems for electric two and three-wheel vehicles
-- Following initial trials, testing and financing Saturna
intends to purchase a minimum 32,000 units of Vmoto's E-Max
electric scooters fitted with Saturna's technology, platform and
software over 5 years for use in Saturna's Electric Scooter Sharing
Project
-- Vmoto's E-Max electric scooters installed with Saturna's
technology, platform and software will be deployed in Saturna's
Electric Scooter Sharing Project in two North American and European
cities, expected to be followed by the roll out of additional
scooters in other cities across North America, ahead of proposed
worldwide distribution
-- Significant potential benefits are expected to flow to Vmoto
and Saturna, including growth initially in the North American and
European markets for both, and synergies between the two companies
in electric vehicle technology and networks
Vmoto Limited (ASX/AIM: VMT) ("Vmoto" or the "Company") is
pleased to announce that it has entered into an initial supply
agreement with Saturna Green Systems Inc ("Saturna") with the
intention of supplying Vmoto's E-Max electric scooters installed
with Saturna's components and software for use in Saturna's
Electric Scooter Sharing Project (the "Agreement").
Charles Chen, Managing Director of Vmoto, commented: "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 shared
transportation system and technology are leading the transformation
of electric vehicles into "smart" electric vehicles. 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."
Anwar Sukkarie, founder and CEO of Saturna, commented: "This
supply agreement with Vmoto represents a significant step in the
evolution of Saturna and the delivery of our Electric Scooter
Sharing Project. As such, it was very important for us to partner
with an experienced manufacturer that has the capabilities and
scale to supply reliable, high quality electric two-wheel vehicle
products that meet international standards and requirements in
North America. The Electric Scooter Sharing Project has received
substantial support from governments in a number of countries and
we are planning to launch in Vancouver, Canada first with a goal to
expand to other cities of choice. We are very pleased to be able to
partner with Vmoto and look forward to developing a long-term and
fruitful relationship with them."
About Saturna Green Systems Inc
Saturna is a high-tech company based in Canada, focused on
developing state-of-the-art wireless shared transportation and
communication systems for electric two and three-wheel vehicles.
Based on what Saturna believes is a highly customisable and
scalable Saturna Platform, Saturna's products and technology bring
the many benefits of mobile wireless technology to users of
electric two and three-wheel vehicle users - where Saturna's
advanced system can help riders and fleet managers to monitor and
manage the electric vehicle's on-board systems, power consumption
and charging, and locate and track the location of the electric
vehicle efficiently.
Saturna provides Transportation-as-a-Service ("TaaS") services
employing Saturna Platform and Software for various applications
including but not limited to:
-- scooter sharing;
-- tourism services; and
-- fleet services.
Anwar Sukkarie, founder and CEO of Saturna has previously
commented: "In the not-too-distant future, two and three-wheel
electric vehicles will revolutionise the way people and businesses
go about their daily lives. We will be leaders in wireless
technology that makes electric, and conventional, two and
three-wheel vehicles more profitable, practical, affordable and
fun."
Terms of Supply Agreement
Under the terms of the Agreement, Saturna intends to use Vmoto's
E-Max electric scooter equipped with Saturna's Platform and
Software for its operations worldwide. Vmoto and Saturna have
already spent several months working together and will continue to
work closely on technical product specifications and recall and
warranty terms, the E-Max scooter and technical modifications
meeting Saturna's technical, logistical and operational
requirements, and agreeing final pricing.
As part of its preliminary work and planning Vmoto has already
shipped 4 test scooters to Saturna. Vmoto will continue to work
closely with Saturna over the next few months to trial, tune,
obtain homologation and integrate Saturna's Platform and Software
into Vmoto's E-Max electric scooter and Saturna will bear the cost
of such trialling, testing and modification, albeit that Vmoto
shall repay such costs if it is unable to supply 3,000 Vmoto E-Max
electric scooters equipped with Saturna's Platform and Software by
31 December 2017.
Following completion of the above work Saturna will commit to
purchase a minimum of 32,000 units of Vmoto's E-Max scooters
equipped with the Customer's components and software over a five
year period following initial shipment of commercial scooters
anticipated to be a master order of 3,000 such scooters to be
delivered by 31 December 2017. Vmoto understands that Saturna is in
the final stages of raising the funds it will require to be able to
satisfy the cost of the development of the scooters and any
subsequent orders as envisaged.
Further announcements will be made in relation to this Agreement
as and when appropriate.
For further information, please contact:
Vmoto
Charles Chen, Managing Director +86 1391 3388 886
charles@vmoto.com.cn
Olly Cairns, Non-Executive
Director +61 8 9226 3865
finnCap Ltd
Christopher Raggett/Simon Hicks
(corporate finance)
Tony Quirke/Mia Gardner (corporate
broking) +44 20 7220 0500
About Vmoto
Vmoto Limited (ASX/AIM: VMT) is a global scooter manufacturing
and distribution group. The Company specialises in high quality
"green" electric powered two wheel vehicles and manufactures a
range of western designed electric scooters from its low cost
manufacturing facilities in Nanjing, China. Vmoto combines low cost
Chinese manufacturing capabilities with European design. The group
operates through two primary brands: Vmoto (aimed at the value
market in Asia) and E-Max (targeting the Western markets, with a
premium end product). As well as operating under its own brands,
the Company also sells to a number of customers on an original
equipment manufacturer ("OEM") basis.
Pictures of Saturna
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
Picture: Brand and logo of Saturna
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
Picture: Saturna Platform, comprises on-vehicle device, rider
interface and connected services via Saturna Cloud
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
Picture: Example of Saturna Dashboard installed on an Electric
Scooter
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
Picture: Connected Services through Saturna Platform and
Cloud
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
Picture: Electric Scooter Sharing Project
http://www.rns-pdf.londonstockexchange.com/rns/3435A_1-2015-9-28.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 28, 2015 02:01 ET (06:01 GMT)
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