Vmoto increased sales of its electric scooters by 13% to 22,000 in the June quarter as the Australian company benefits from international distribution deals.
The company says it has appointed a distributor for the UK and Ireland, and is talking to potential new customers and distributors from North America, Denmark, Switzerland and New Zealand. It is also talking to a European supermarket group.
Managing director Charles Chen says sales of electric two-wheel vehicle products continued to increase across international markets.
“Interest levels in our electric vehicle products remain high,” he says. “We have also progressed the establishment of our internet based retail sales network and system to expand sales and further increase profitability.”
International unit sales increased by 40% compared with the same three months in 2014. Sales to Chinese retail stores and distributors increased by 16% to 6,088.
In China, the company now has a sales network of 43 outlets through a combination of its own retail outlets and third party distributors.
Vmoto expects sales it be stronger in the second half of the year.
Its shares are trading 3.57% higher at $0.435.