• Total unit sales of 3,801 in 4Q24, down 18% on 4Q23
• International unit sales of 3,249 in 4Q24, down 12% on 4Q23
• Cash position of A$41.5 million and bank facility of A$5.5 million as of 31 Dec 2024

Global electric vehicle company Vmoto Limited (ASX: VMT) has provided an update on its activities for the quarter ended 31 December 2024 (4Q24). During 4Q24, Vmoto sold a total of 3,801 units, down 18% on 4Q23. Total international units sold was 3,249, down 12% on 4Q23. The company remains committed to collaborating with distributors and customers to promote products and explore new business models to increase revenue and profits. Vmoto's balance sheet remains strong, with a closing cash position of A$41.5 million as at 31 December 2024. The company has also drawn down RMB 25 million (~A$5.5 million) from its bank operating facility. As at 31 December 2024, the company had firm orders for 2,025 units, scheduled for delivery during 1Q25. Vmoto has entered into joint ventures in Thailand and Mexico to focus on supplying electric motorcycles/mopeds and e-mobility solutions to the delivery, transportation and logistics markets. The company's APD model won the Good Design Award 2024 and Vmoto exhibited its Electric Mobility Solution at EICMA 2024 in Milan, Italy.

The Federal Reserve's interest rate cut has eased consumer and distributor sentiment, leading to a recovery in some aspects of sales. However, the current economic climate in Europe continues to negatively impact consumer sales, though the company remains confident that discussions with distributors and organisations focused on transitioning to EVs will result in a material improvement in B2B sales. The company is continuously improving its products and e-mobility solutions to provide a greater competitive advantage, and is actively pursuing opportunities in new regions to create new revenue streams. The longer-term trend towards EVs globally remains strong, with government policy facilitating the continued electrification of the transport industry.