VivoPower's Tembo Launches Full Electric Pick Up Utility Vehicle; Initial B2B Orders Already Secured For The EU-Certified OEM Vehicles, Which Are On Track For Full Homologation By July 2024
Portfolio Pulse from Benzinga Newsdesk
VivoPower's Tembo has launched a fully electric pickup utility vehicle, securing initial B2B orders for EU-certified OEM vehicles. The vehicles are on track for full homologation by July 2024. This strategic development allows Tembo to bypass capex intensive assembly processes and fast track to profitable revenues. The OEM program is expected to expand Tembo's total addressable B2B market by over 100% to $203 billion.
May 29, 2024 | 12:14 pm
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VivoPower's Tembo has launched a fully electric pickup utility vehicle, securing initial B2B orders and is on track for full homologation by July 2024. This development is expected to significantly expand Tembo's market and reduce costs.
The launch of the fully electric pickup utility vehicle and securing initial B2B orders are positive developments for VivoPower. The strategic supply chain and cost reductions are likely to boost profitability and market expansion, positively impacting the stock price.
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