Vmoto Ltd Announces Joint Venture With Riba Motos Industria e Comercio Ltda
Vmoto Ltd announced that it has signed a joint venture agreement with Riba Motos Industria e Comercio Ltda in Brazil on a 70% (Riba) and 30% (Vmoto) basis. The parties will form a Joint Venture to be named as E-Max do Brasil. The 70% (Riba), 30% (Vmoto) equity interest in a minimum 12 year joint venture to assemble, market and sell new E-Max electric vehicles, products, parts, accessories and engineering applications in Brazil as well as co-developing new models for Brazil and other worldwide markets.
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