Electric vehicle company Vmoto agreed to acquire the business and assets of its French distributor, Mujoo France, for €195,000 (~A$325,000).

The acquisition will be funded from existing cash reserves. 

The acquisition aligns with Vmoto's global growth strategy and provides direct access to 40+ active business-to-consumer dealers in France, resuming exclusive sales and marketing rights.

The final sale and purchase agreement is expected to be finalized in October.