New Brand - Edde ?, page-14

Interesting developments in Indonesia. The deal with Charged, which was announced less than one year ago, appear to have strengthened into a sort of distribution agreement. Charged was initially a subscription-based company, renting electric bikes to Indonesians. It then started to focus exclusively on VMT models, adapted to the local market needs and loosely badged Charged. Then VMT got this equity deal, which will be much less than the 8% in the end, which gave them some sort of insights into the Indonesia market.
After last week's conference, it appears that Charged will continue to sell, rent, rent-to-own the three scooter models (manufactured in Indonesia) presented at the event. These are branded VMT or cobranded and are designed for the local market (the poor/cheap segment). But Charged has also started to showcase VMT (stash, Dirt bike,...) and Soco products.
Graziano told us that, after Rome, they will be opening many more Vmoto stores around the world, amongst others in Indonesia... Now, I do not think that, apart from the three local models, Charged is going to manufacture any other VMT model. Graziano told us that the Thailand plant will be manufacturing for SEA. So, is the "new" Charged deal about giving Charged the non-exclusive right to distribute VMT and Soco products in Indonesia?
Charged may continue on with its goal to get EV bikes on the roads in an affordable way, by leveraging VMT products and "powered by Vmoto" credibility, while VMT can leverage their local management and network to get VMT and Soco products (mid and high end) into Indonesia. We will see.