Vmoto

The group has its origins in Vmoto Motorcycles, a scooter distributor business which was founded by Perth entrepreneur Patrick Davin in 1999. An ASX-listed company, the Optima group, acquired the Vmoto brand in 2006, and Davin was appointed as managing director the following year, after which the company took on the name of the motorcycle brand.[1]

A period of rapid consolation followed on from the Vmoto acquisition. At the end of 2006, Vmoto announced a formal agreement to acquire the Shanghai-based motorcycle trading and distribution company Freedomotor.[2] The managing director of Freedomotor, Charles Chen, joined the board of the company following the acquisition, which was completed on the first day of the new year.

In 2008 the company commenced the construction of a scooter assembly plant in Nanjing, China, which was completed the following year. In December of the same year, Vmoto entered into a strategic agreement with the German electric scooter company, E-max, initially acquiring a majority stake in the company, then taking full control of the company in 2010.

The acquisition of E-Max charted the long term path of the company, with electric two-wheelers remaining at the core of the Vmoto's future activities.

In November 2010, the Vmoto founder Patrick Davin resigned as managing director, to be replaced by Charles Chen, and Russel Goodman, the largest shareholder in the company, took up the position of Executive Chairman in the wake of the departure, only to be removed from his position early in the new year. Subsequently, the former Chairman made good on threats to liquidate his entire position in the company.[3]

The resignation of Davin and Goodman marked the beginning of an extended period of inertia for the company. The E-Max electric scooters produced by the company proved to be something of a flop, with less than one hundred sold in Australia.[4] An attempt in 2012 to gain a foothold in the Chinese market via an agreement with a Chinese automotive group seemed to initially offer promise, but the change of direction ultimately failed to revive the fortunes of the company, and the company floundered for several years thereafter.[5]

In 2017, Vmoto entered into an informal partnership with an emerging Chinese EV company, Super Soco. An agreement was signed under which Super Soco relocated to the Nanjing manufacturing facility of Vmoto, which was not at full capacity. That year the two companies conjointly presented at the EICMA motorcycle event in Milan.

The commencement of the relationship with Super Soco marked a shift in direction for the company, the company reducing its exposure to China from China in favour of western markets.

In 2019, Vmoto entered into an agreement with Ducati, producing a special edition Super Soco scooter bedecked in the signature Ducati branding [6]

In February 2020, Vmoto formalised their strategic relationship with Super Soco, through the establishment of a joint venture, Vmoto Soco. As per the terms of this agreement, Vmoto gained international distribution rights over the Super Soco models, as well as its existing E-Max brand. Vmoto Soco also became the exclusive manufacturer of the Super Soco motorcycle range.[7]

In March 2021, a Memorandum of Understanding was signed with Bird Electric Mobility, of the Bird Group of India, for a test ride sharing project in India involving re-branded Super Soco Cux electric Scooters. [8]

In November 2021, the company embarked on an initiative to revitalise their faded brand, engaging a European design firm for the purpose, and employing their platform at the 2021 Milan EICMA motorcycle event to showcase the brand re-boot.[9] During the event, the company unveiled the first premium motorcycle model to be produced by the group, the Vmoto Stash, aimed at the European and North American markets.[10]