What happened Shares of VivoPower International (NASDAQ: VVPR) were trading higher on Monday, after the company announced it has agreed to a deal with a distributor that will offer its electric vehicle conversions in Australia. As of 1:30 p.m. EST, VivoPower's shares were up about 22.7% from Friday's closing price. So what This will take a bit of explaining. London-based VivoPower has a 51% stake in a Dutch company called Tembo e-LV, which installs electric drivetrains in Toyota Land Cruiser SUVs and Hilux pickups. Tembo also sells kits to convert vehicles to battery-electric operation. GB Auto is a privately held Australian company that sells vehicles and equipment to clients in the mining, construction, transportation (think buses), and agricultural sectors. GB Auto has a subsidiary, called GB Electric Vehicles, that sells -- you guessed it -- electric vehicles, specifically to mining companies for underground operation. So here's the news: Tembo has signed a definitive agreement with GB Electric Vehicles, under which GB becomes the exclusive Australian distributor of Tembo's trucks and conversion kits. GB Auto will distribute Tembo's Toyota-based electric trucks in Australia. Image source: GB Auto. Now what It's a substantial piece of business for VivoPower. The company said in a statement that it expects GB Auto to purchase $250 million worth of vehicles and conversion kits over the four-year term of the deal. That, plus the intense investor interest in everything having to do with electric vehicles, is why the stock is up today. 10 stocks we like better than VivoPower International PLCWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and VivoPower International PLC wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 John Rosevear has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source