(MENAFN- ProactiveInvestors - Australia) Vmoto (ASX:VMT) has won a Manufacturing and Supply Agreement signed with E-Tropolis GmbH, a prestigious electric scooter company in Germany.
The agreement will see Vmoto produce three of E-Tropolis' electric scooter models on an OEM basis, for a minimum of 15,000 units over 3 years.
A minimum of 15,000 units will be produced pursuant to manufacturing and supply agreement.
Assuming E-Tropolis' sales reach those forecast as stated above, Vmoto will generate approximately $24 million in revenue from year 2013 to 2015.
Significant benefits are also expected to flow to Vmoto including growth in the European market and synergies between the two companies especially in R&D and technology.
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