The joint venture between Tembo and Francisco Motors taps into a substantial market opportunity, with the potential to electrify over 200,000 existing jeepneys in the Philippines, representing a market value exceeding $10 billion. This news is based on a press release statement and reflects the current business developments between Tembo and Francisco Motors, without speculating on future market trends or the broader industry impact. LONDON - Tembo E-LV BV, a subsidiary of VivoPower International PLC  NASDAQ VVPR , has received 1,300 order commitments for the assembly of electric jeepneys through its joint venture with Francisco Motor Corporation in the Philippines. Tembo, as part of VivoPower, specializes in electric utility vehicles for various industries, focusing on safety, reliability, and performance.
Tembo E-LV BV, a subsidiary of VivoPower International PLC, has received 1,300 order commitments for the assembly of electric jeepneys through its joint venture with Francisco Motor Corporation in the Philippines. This joint venture taps into a substantial market opportunity, with the potential to electrify over 200,000 existing jeepneys in the Philippines, representing a market value exceeding $10 billion.