Vmoto’s primary business is B2B leasing of electric delivery scooters for local delivery of food and goods. Its mission is to displace the use of petrol scooters in the fast-growing local delivery industry, deploying electric scooters which are cheaper to run than the incumbent petrol scooters owing to the use of electricity, which is 1/10th the cost per mile of petrol. Vmoto’s message to its customers is very simple: go green to save money.
Vmoto has exclusive distribution rights from the manufacturer of the delivery scooters in China, for a product which has been extensively tested in multiple markets worldwide. Additionally, the delivery scooter business model Vmoto seeks to implement has been proven elsewhere in Europe, including the Netherlands where 1,000 vehicles were deployed within 18 months, generating EBIT of €1m annually and a growth rate of 500 scooters per year. The Vmoto team believe that this model will also succeed in the UK. Vmoto has received written expressions of interest from aggregator brands, demonstrating that the proposition will work for delivery incumbents such as pizza franchises, together with the fast-growing delivery aggregators.
In addition to its core B2B business, Vmoto also retails B2C electric motorbikes and has concentrated on building a retail network during Q2 and Q3 2017. From a standing start in May 2017, Vmoto now has 16 retailers across England and Wales, and expects to have 30 retailers by the end of Q1 2018. The primary goal of the retail business is to support the growth of the B2B business by providing support centres for delivery scooters.