The company in 2013 unveiled a new product the MOVEO the folding electric scooter which they intend to begin distributing by June 2014.
The company was founded by Zsolt Hegedűs and Géza Hivessy in 2001. The company’s headquarter is based in Őriszentpéter, in the western corner of Hungary (Antro Group). The vision of the company is to lead in the innovation of prototypes making use of environmental friendly technologies and materials that decrease the weight of the locomotives in order to reduce the consumption of energy. Their mission is to establish an environmentally friendly quality mode of transport that offers a cheap and comfortable alternative to the existing transport means.
The market target for the MOVEO foldable electric scooter is individuals mainly residing in urban areas. The foldable electric scooter was created with the intention of regulating commuting by car which in turn reduces the emissions that pollute the environment. This follows the growth of awareness among the consumers who are now beginning to welcome two wheeled vehicles as a new mode of transport (Hurst & Gartner 2012). The market for electric scooters has also been boosted by the introduction of electric cars since there are charging spots that are easily accessible within the city which is attracting the interest of both new and existing consumers (Pinson, Jinnett & Pinson 1996).
The major primary market for the MOVEO foldable scooter is the Asia Pacific region. This is because there is a high rate of urbanisation which continues to grow every day. Due to this, it leads to congestion in traffic coupled with emissions that pollute the environment. Following these reasons, the governments in the region have all come together to promote the use of electric scooters in order to manage pollution. The electric scooter market is expected to grow tremendously ...