Velomotors () is a Russian manufacturer of bicycles, motorscooters, and small all-terrain vehicles (ATVs) that was founded in 1996.[1] Velomotors produces the Stels brand of bicycles and motorscooters. In 2009 the company entered into a manufacturing arrangement with the Asian companies Buyang, Kazuma, and Dinli.[2]
Ownership
The company is 70% owned by the Nachevkin brothers, Alexandr (40%) and Yuri (30%). The remaining 30% ownership is held by Igor Ivanov.[3]
Revenue
In 2007 the company produced 987,000 units of equipment, including Stels bikes and scooters. Revenues in 2007 amounted to 2.8 billion rubles, up from 2.1 billion in 2006.[3]