Last month, we had posted about Vmoto which was contracted to produce 30,000 fully assembled scooters for Vietnam. Today, that all becomes a reality as Vmoto has reportedly raised $1.08 million for the first half to support the mass production of this big scooter order. The raised amount will serve to pay debts and working capital for the project.

With the goal to produce 100,000 Vespa scooters a year to guide them, Piaggio has started production for Vespas at the first factory which opened in Vietnam. The new plant, which cost $30 million, will start manufacturing 125 and 150 cc Vespa scooters.

To complement the production needs, about 350 workers will be employed where the produced scooters will be offered to the local market and also for export.

Piaggio has sold imported Vespa scooters in Vietnam at a price of roughly $5,000. The locally made vehicle is expected to be $1,500 cheaper.

Vmoto Ltd. scored a big one for its company has it has reportedly won a $23 million contract to produce 30,000 scooters for Vietnam. And the sweeter part is that should this order show strong demand, the Vietnam company who placed the order will be purchasing an additional 100,000 units.

The 30,000 Mid Range Retro scooters will be manufactured by Vmoto at its Nanjing, China plant over the next 12 months, with the first batch scheduled to be delivered by August.

Vmoto managing director Patrick Davin says the contract is a great achievement for the company.