Press release
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aprile 04, 2022 - Vmoto
Vmoto Limited announces an important deal
Comunicato Stampa disponibile solo in lingua originale.
Vmoto enters strategic #partnership and investment #agreement with leading European #automotive entrepreneurs
Milan, April 04, 2022 – Global electric vehicle company Vmoto Limited (ASX: VMT) (Vmoto, or the Company) is pleased to announce that it has entered into a strategic advisory and investment agreement with Giovanni Castiglioni (Castiglioni) along with a #partnership and investment agreement with Graziano Milone (Milone), both well-known and experienced European entrepreneurs, investors and executives in the global motorcycle industry.
The Castiglioni family has over thirty years of history in the motorcycle industry, having previously owned and contributed to the growth of some of the most successful motorcycle companies worldwide, starting the venture in the 1970's with the foundation of Cagiva Group, which included several brands, up to the iconic and prestigious MV Agusta brand which shares were sold in 2019.
The strategic #agreement with Castiglioni will consist of a direct investment in Vmoto and the appointment of advisor to the Vmoto board of directors with the aim of developing new sales opportunities and #marketing strategies, both in the European and global market. Castiglioni will also share his vast experience in developing the design of new motorcycle products for the company with Vmoto. The style and design of the most successful MV Agusta motorcycles were conceived during the Castiglioni family management.
At the same time, Vmoto has also appointed Mr. Graziano Milone, partner of Vmoto's joint venture in its Italian distribution company, Vmoto Soco #italy srl (VSI), as the Company's Chief #marketing Officer / President of Strategy and Business Development of #vmotolimited. Milone is an experienced entrepreneur with a proven history of success in numerous sectors, including the distribution of motorcycles. Milone has successfully developed and increased sales for a number of renowned international trading and manufacturing groups in #italy and Europe. The Company, through VSI, has entered into an investment #agreement with Milone.
Along side the direct investment in Vmoto, Castiglioni will also make an investment in VSI. Following the Castiglioni investment into VSI, both Castiglioni and Milone will each own 25% of VSI (together 50%), while Vmoto will retain a 50% interest in VSI.
Giovanni Castiglioni commented: "I have been working unofficially alongside the members of the Vmoto team for some time and I am pleased to formalize this relationship. I am excited about Vmoto's growth potential and confident that with the Company's unique and innovative products, established B2B and B2C markets, and the strong vision of Charles and his team, the Company is on the verge of becoming one of the most successful players in the electric urban mobility space. I want to thank Charles for the trust in me and Milone for his foresight and commitment to the strategic development of Vmoto both in #italy and globally. I am very proud and excited to support them in this fantastic endeavor".
Charles Chen, Managing Director of Vmoto, said: "I am thrilled to have someone as experienced and successful as Giovanni not only joining our share register, but also coming on board as the new team member as a global advisor who focuses on our sales strategies, global #marketing and development. His experience and impressive track record in the global motorcycle industry give me great confidence in his ability to support Vmoto in delivering unprecedented growth and success, enhancing the Company's already bright future. I am also thrilled to consolidate my friendship and collaboration with Graziano Milone who, in addition to playing a strategic and important role for Vmoto, has increased his stake in the Company as a demonstration of the trust he places in Vmoto".
Graziano Milone, CMO / President of Strategy and Business Development commented:" I am very happy that Giovanni joins our team and I am sure that his experience and contribution will be an integral part of Vmoto's growth. His experience in style and image will be important for the development of Vmoto's future products. On this occasion, I thank Charles and his team for the trust he placed in me".
Vmoto recently announced a record preliminary financial result for financial year 2021, confirming its status as a leader in the manufacturing and distribution of zero-emission electric motorcycles/mopeds, both in the B2B and B2C markets. The Company achieved an unaudited net profit after tax of $8 million, strong operating cash flows, highly liquid working capital and a strong cash balance with no bank debt.
Vmoto's position as a leading electric motorcycle/moped company in Europe, combined with a well-established and competitive manufacturing base in #nanjing, has led to strong financial performance by the Group in recent years and has enabled the Company to take advantage of the incredible opportunity presented with the global electrification of the entire transport industry. The significant and fast growing market opportunity in front of the Company, has attracted Castiglioni to become an investor and shareholder in Vmoto.
The Company recently attended the latest international EICMA show, where it successfully launched the new Vmoto "Stash" project, a 7kw urban electric motorcycle. In addition, the Company has several new models in the pipeline, to be released in the coming 36 months, which will enable Vmoto to consolidate its position as one of the world's most significant producers of premium electric two-wheel vehicles.
European Design and Products Development
It is important to underline that Vmoto has in addition to the strategic #partnership with Castiglioni and the key global appointment of Milone, inaugurated the European design and product development center in Italy. The first products designed for new Vmoto premium series are the result of the collaboration with C-Creative, one of the leading design and engineering centers in the sector, led by the world famous designer, Mr. Adrian Morton and the key engineer, Mr. Paolo Bianchi. Together they have created some of the most iconic and successful motorcycles of the past 20 years.
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