Vmoto finalises Thai electric vehicle joint venture

Global electric vehicle specialist Vmoto (ASX:VMT) has finalised a binding joint investment agreement with Thailand’s Tora Leasing, a subsidiary of Tora Energy Group.

The landmark transaction will see Tora invest up to 77.8 million Thai baht over the next seven months to secure a 49% equity stake in Vmoto (Thailand), with Vmoto retaining a 51% controlling interest.

The venture will focus extensively on the importation, assembly, and nationwide distribution of Vmoto-branded electric two-wheel vehicles and spare parts.

By leveraging Tora Energy’s well-established local network of dealerships, manufacturing expertise, and deeply rooted institutional relationships, the partnership aims to accelerate market penetration across Thailand's retail consumer sectors, commercial business-to-business markets, and major public sector government procurement projects.

Vmoto’s Managing Director, Charles Chen, expressed immense optimism regarding the collaboration, stating that partnering with Tora creates critical operational synergies to expedite the transition to sustainable transport and dominate Thailand's rapidly growing EV and charging infrastructure ecosystems.

Echoing these sentiments, Tora CEO Nakarin Walaivit highlighted that Vmoto’s premium product quality combined with Tora's local distribution networks will make clean urban commuting accessible and widespread.

The joint venture marks a regional expansion for Vmoto into Southeast Asia’s booming renewable mobility sector.