TVS Motor Company obtains electric bicycle producer Swiss E-Mobility Group

January 31, 2022

TVS Motor Company obtains electric bicycle producer Swiss E-Mobility Group

The procurement will give a further lift to TVS' extension in Europe through an arrangement of brands that additionally incorporate Norton Motorcycles and EGO Movement, which were as of late obtained.

TVS Motor Company reported on Thursday the effective obtaining of a 75 percent stake in the electric bicycle producer Swiss E-Mobility Group (SEMG). SEMG is a market-driving supplier of e-versatility arrangements inside the DACH area, working the biggest e-bicycle corporate store M-way in Switzerland with near USD 100 million in income. The organization's portability brands portfolio incorporates Cilo, Simpel, Allegro, and Zenith bicycles. The brand retails through two web-based stages and 31 actual stores.

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The obtaining will give a further lift to TVS' development in Europe through an arrangement of brands that additionally incorporate Norton Motorcycles and EGO Movement, which were as of late gained. The obtaining has been made in an all-cash bargain through TVS Motor's Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.

"TVS Motor has been submitted all of the time to manageability and has been putting resources into electric vehicles for north of 10 years. The expanding worldwide spotlight on the climate and individual prosperity is quickly speeding up interest for fresher versatility arrangements, and TVS Motor is contributing to drive this change," Venu Srinivasan, Chairman, TVS Motor Company, said.

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"TVS Motor is focused on being at the bleeding edge of e-individual portability internationally. SEMG supplements our acquisitions of Norton Motorcycles and EGO Movement and fortifies our obligation to natural manageability. We offer our clients a convincing arrangement of innovatively progressed and climate agreeable items," Sir Ralf Speth, Chairman assign, TVS Motor Company, said.

E-bicycles are developing gigantically well known in Europe for individual versatility because of the simplicity of utilization, administrative help, and in general insight as an economical type of transport. With a current entrance of roughly 15% of the absolute bike populace in Europe and developing at a CAGR of ~18%, the market for the e-bike holds huge development potential.

Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, "This securing promotes TVS Motor's responsibility towards e-individual versatility items. We are fortifying our essence in the quickly developing e-bicycles portion. SEMG has solid omnichannel appropriation and optimistic brands, including Cilo, Simpel, and Zenith - Bikes."

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Rainer Fröhlich, Founder and Managing Partner, Constellation Capital, underscores: "In TVS Motor, we have tracked down the ideal and an extraordinarily unique accomplice for SEMG to support and extend the Group's situation as a market chief. The system of having a worldwide pioneer like TVS as a larger part investor not just offers undiscovered potential in quality affirmation and obtainment in the worldwide store network yet additionally establishes the framework for future development of the gathering past public boundaries."