VivoPower's Tembo Announces Definitive Agreement With Pre-Eminent Jeepney Group, Sarao Motors, In The Philippines' Estimated $10B Jeepney Market; Sarao Motors Selected Tembo To Be Its Exclusive Partner To Provide Electric Jeepneys
Portfolio Pulse from Benzinga Newsdesk
VivoPower's subsidiary, Tembo, has entered a definitive agreement with Sarao Motors to provide electric jeepneys in the Philippines' $10B market. This partnership aims to electrify the iconic jeepneys, reducing carbon emissions and modernizing public transport.
October 03, 2024 | 2:10 pm
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VivoPower's subsidiary, Tembo, has partnered with Sarao Motors to provide electric jeepneys in the Philippines, targeting a $10B market. This strategic move could enhance VivoPower's market presence and sustainability credentials.
The partnership with Sarao Motors positions VivoPower to tap into the large and iconic jeepney market in the Philippines, potentially increasing its market share and enhancing its reputation in sustainable transport solutions. The move aligns with global trends towards electrification and sustainability, likely boosting investor confidence and stock price in the short term.
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