12:06 PM EDT, 04/07/2025 (MT Newswires) -- VivoPower International ( VVPR ) said Monday that the proposed $180 million all-cash takeover offer process from Abu Dhabi-headquartered Energi is progressing to the due diligence stage.

"Review of the proposed US tariffs announced by President Trump suggests that they are not expected to affect the Tembo electric vehicle business," the company said.

Tembo will continue to focus on larger addressable markets outside of the US for its electric vehicle solutions, the firm said, adding that Tembo does not currently have customers, partners, or suppliers in the US.

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