Vmoto will be making new electric scooters, merging with E-Max to form one new company set to unveil a new line of electric scooters to satisfy the growing demand in the market today. Vmoto will be owning 60% of the new company where it will buy assets and property from E-Max. The remaining 40% will be owned by E-Max shareholders and the new company will be based at Vmoto’s facilities in China. Vmoto estimates that five million of its shares will be issued to some minority E-Max shareholders and be held in escrow for 12 months. The official signing of the agreement will be held in China next week.

(Source) Perth Now