3Q26 highlights: 4,881 units sold, up 80%, with 5,845 units on order
In its 3Q26 market update for the quarter ended 30 September 2026, Vmoto Limited (ASX: VMT) recorded sales of 4,881 units, an 80% increase on 3Q25, despite the European holiday season. The company sold electric motorcycles and mopeds across its international distribution and fleet channels.
As at 30 September 2026, Vmoto held firm orders totalling 5,845 units, scheduled for delivery during 4Q26. Closing cash was A$26 million, giving the company both forward order cover and a cash balance as it scales production.
| Metric | Result | Comparison | Note |
|---|---|---|---|
| Units sold | 4,881 | 80% up on 3Q25 | Achieved despite the European holiday season |
| Firm orders | 5,845 | n/a | Delivery scheduled during 4Q26 |
| Closing cash | A$26 million | n/a | As at 30 September 2026 |
| Bank facilities drawn | RMB80.5 million | n/a | ~A$17.2 million |
When big ASX news breaks, our subscribers know first
Sales and orders broaden beyond Europe
Geographic diversification
Europe remains an important market, but Vmoto reported increasing sales and orders from China, Southeast Asia, South America and Africa. The company states this diversification provides access to a broader customer base and reduces its reliance on any single geographical market.
In China, the Vmoto RideTour pilots with JD.com, Meituan and Taobao target about 100,000 Nanjing delivery riders, bundling vehicles with batteries, chargers and maintenance.
The update also pictured the grand opening of a dedicated Vmoto store in Bangladesh, and electric vehicle products on display in a retail store in Thailand.
Fleet strategy and integrated e-mobility
Vmoto is pursuing growth in the international fleet market through integrated e-mobility solutions, combining vehicle supply with fast charging, battery swapping and fleet management solutions. These initiatives have generated what the company calls “encouraging interest” from potential B2B customers, particularly in South America, where it sees opportunities to support the transition of petrol-powered fleets to electric mobility.
The company’s integrated business model has three areas:
- EV-as-a-Product: electric motorcycle and moped sales, with rental and financing solutions.
- Energy-as-a-Service: fast charging and battery-swapping infrastructure.
- Data-as-a-Service: smart IoT technology, fleet management systems and mobile applications.
New affordable CP moped
Vmoto has been undertaking research and development of a new affordable electric moped, currently under the model designation CP. It is being developed for both delivery and passenger applications, with particular consideration given to the requirements of Asian countries.
The company believes an affordable product tailored to local requirements will provide additional opportunities to expand its distribution network and increase market penetration.
Cash, funding and investment during 3Q26
Vmoto maintained closing cash of A$26 million at 30 September 2026. During the quarter, resources went towards:
- Operating costs and working capital requirements of its start-up subsidiary in Thailand
- Securing components to fulfil customer orders
- Product upgrades and improvements through research and development
- New product moulds
- Progressive payments on the Stage 2 manufacturing facilities in Nanjing, China, where construction of the buildings, roads and landscaping has been completed
For a hardware manufacturer, working capital pays for components before finished vehicles are delivered and paid for. Firm orders of 5,845 units and a A$26 million cash balance are the two figures that matter most for that cycle this quarter.
Vmoto had drawn RMB80.5 million (~A$17.2 million) under unsecured revolving bank operating facilities provided by Industrial and Commercial Bank of China, Bank of China and Jiangsu Lishui Rural Commercial Bank in Lishui, Nanjing. The facilities carry interest of approximately 2.4% to 2.7%. The A$17.2 million figure is based on an exchange rate of AU$1: RMB4.68 on 30 September 2026.
Through arrangements with Sinosure, a government-backed export credit insurance corporation, Vmoto is able to offer customers more flexible payment terms.
Partnerships: Alsak, Uber and Tora
Alsak strategic cooperation framework agreement
As announced on 10 August 2026, Vmoto entered a strategic cooperation framework agreement with Alsak Investment Company to explore a long-term strategic partnership. The proposed cooperation will focus on evaluating initiatives across the Gulf Cooperation Council (GCC) and Africa.
The parties will jointly assess the potential establishment of an integrated headquarters and regional operational centre in the Kingdom of Saudi Arabia. The assessment will consider an integrated operating platform that may include:
- Electric motorcycle and moped assembly facilities
- Regional product distribution and dealer network development
- After-sales services, maintenance and technical support operations
- Fast charging and battery-swapping infrastructure
- Other supporting commercial and operational activities required to serve the regional markets
Discussions remain ongoing.
For readers wanting to weigh the proposal further, our full explainer on the Alsak Saudi framework sets out why the agreement is non-binding and how it fits Vmoto’s pattern of capital-light entry through local partners.
Uber renewal
As announced on 18 August 2026, Vmoto and Uber renewed their international partnership for a further term until April 2027, with automatic successive renewals of 12 months unless terminated by either party.
In the Netherlands, Vmoto, together with its supplier partners, will offer exclusive discounts on electric vehicles and associated rental, maintenance and charging services to couriers. The company said this is potentially generating savings of hundreds of euros for couriers switching to Vmoto electric mopeds.
Tora joint venture in Thailand
As announced on 13 July 2026, Vmoto Thailand received the first tranche of THB3 million (approximately A$128,000) in investment from Tora Leasing Co., Ltd. Due to its own circumstances, Tora decided not to proceed with further investment in Vmoto Thailand and will remain a minority shareholder.
Outlook and what to watch next
Management said it sees encouraging opportunities from the increasing global focus on energy security, fuel price volatility and the transition towards cleaner transportation. In Europe, it sees a more favourable funding environment for electric vehicle businesses, which may provide additional opportunities, particularly in the commercial fleet and delivery sectors.
Outside Europe, the company said it continues to engage with distributors and organisations across Asia, the Middle East, South America and Africa, and is experiencing increasing orders and demand for B2C products from newer markets including China, Southeast Asia, South America and Africa.
Items to watch:
- Delivery of the 5,845 units of firm orders, scheduled during 4Q26.
- The Uber partnership term runs until April 2027, with automatic successive 12-month renewals unless terminated by either party.
- Vmoto will update the market should material developments arise from the Alsak discussions, and will update shareholders on material commercial developments as opportunities progress (no dates given).
Don’t Miss the Next Consumer Discretionary Winner
Join 20,000+ investors getting FREE breaking ASX news from Big News Blast within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button to get consumer and tech announcements in your inbox the moment they break, and stay ahead of the market.