Electric scooter and motorbike manufacturer, Vmoto (ASX: VMT), has announced that eMoped Motosharing will launch Australia’s first electric motorcycle ridesharing service in Brisbane, ordering 50-units of Vmoto’s CUX model.
While the electric motorcycle ridesharing service is only available in Brisbane, eMoped expect to begin operations across other Australian cities in future years. Charging a $1 unlock fee followed by $0.48 per minute of use, the 100% electric motorcycle comes with two helmets, and can be returned across various Brisbane locations. The smart-phone app allows riders to locate the nearest eMoped station and pre-book the electric mopeds.
Director of eMoped, Mr Aleix Serratosa, said on the news “Vmoto has built the CUX to our required specifications and our eMoped mobile apps have all been developed for Australia’s networks. The team at eMoped is excited to bring customers a truly flexible, environmentally friendly and economical way to manoeuvre the city streets of Brisbane. Managing Director of Vmoto, Mr Charles Chen commented “We are pleased and excited to work with both eMoped Motosharing and Urban Moto Imports, in bringing the first eMoped rideshare concept to Australia.”
The popularity of electric cars has seen steep increases in popularity over past years as consumers are increasingly concerned about carbon emissions and opting for economical alternatives. The global electric scooter market is valued at approximately US$17b, and expected to grow at a compounded annual growth rate of 8.5% from 2019 to 2030. However, Australia is lagging behind other countries in sales of new electric cars, falling outside the top 20 countries. Such figures may illustrate why electric motorcycle ridesharing services are established in European markets and only just beginning domestically.
While the order of 50-units is relatively modest, there may be potential for additional orders for the company if eMoped expand to other capital cities and continue supplying Vmoto’s motorcycles. Vmoto are not new to the ride-sharing concept, indicating it is a key element of their strategy moving forward. Earlier this week, the company announced European electric ridesharing service, GO Sharing, ordered 2000-units of their products to expand their operations in the Netherlands.
Bronte Moore is a business journalist at Emerald Financial whilst also completing a JD at the University of Melbourne.
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