Vmoto (ASX:VMT) agreed to further invest in the UK-based motorcycle rental firm Zenion for 335,000 pounds sterling by supplying its CPX electric vehicles to Zenion, according to a Monday filing with the Australian bourse.
The company will own 15.6% of Zenion post-investment, the filing said.
Zenion expects to increase its Vmoto CPx electric delivery motorcycle fleet in London and the UK to 3,000 units by the end of the year and 8,000 units by 2026, per the filing.
Vmoto shares fell 4% in morning trade on Monday.
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