Vivopower International (NASDAQ:VVPR) shares are trading higher on Friday after the company announced its executives signed a definitive agreement to acquire 51% of a light electric vehicle company called Tembo e-LV.

Vivopower is a solar power company. The company provides energy infrastructure generation, distribution solutions and also engaged in the development, construction, and sale of photovoltaic(PV) solar projects. It operates its business through three operating segments: Solar Development, Critical Power Services, and Corporate Office.

Vivopower shares traded up 63.64% to $16.51 on Friday at the time of publication. The stock has a 52-week high of $19.39 and a 52-week low of 59 cents.