TVS acquires 75 percent stake in Swiss e-Mobility Group

    The acquisition is in sync with TVS’ expansion plan across Europe, with penetration of e-bicycles currently at 15 percent.

    Published On Jan 28, 2022 01:04:00 PM

    5,054 Views

    TVS acquires 75 percent stake in Swiss e-Mobility Group
    Listen to this Article

    TVS Motor Company has taken a new step in its overseas expansion plans by acquiring a 75 percent stake in Swiss e-Mobility Group (SEMG). SEMG provides e-mobility solutions within the DACH region (Germany, Austria and Switzerland), operating the largest pure-play e-bike retail chain M-way in Switzerland, with close to $100 million in revenue. 

    TVS’ latest acquisition is in line with its plans to expand its footprint on a global level. The company is focusing on building a portfolio of premium and technology-driven brands, including Norton Motorcycles and EGO Movement. 

    SEMG has a prestigious Swiss mobility brands portfolio – including Cilo, Simpel, Allegro and Zenith bikes. By combining its extensive physical network and e-commerce platform with two online platforms and 31 physical stores, SEMG is able to deliver a seamless and world-class customer experience.

    “TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years, ” said Venu Srinivasan, chairman, TVS Motor Company  “The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions, and TVS Motor is investing to drive this change.”

    E-bikes are slowly establishing themselves as the de-facto form of personal mobility in Europe. This is mainly due to their ease of usage, regulatory support and overall perception as a sustainable form of transport. With a current penetration of approximately 15 percent of the total bicycle population in Europe, and growing at a CAGR of 18 percent, the market for the e-bicycle holds significant growth potential.

     
    TVS Apache RR310
    TVS Apache RR310

    ₹ 1,89,088 * on road price (New Delhi)

    FIND OUT MORE

    Copyright (c) Autocar India. All rights reserved.

    Comments
    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Search By Bike Price
    Poll of the month

    BMW's 3 Series-based i4 EV costs Rs 69.90 lakh and has a claimed range of 590km. Would you:

    Buy the i4 and go green

     

    35.16%

    Buy the sporty M340i for Rs 65.90 lakh

     

    26.02%

    Buy the more premium 5 Series for Rs 64.90 lakh

     

    38.82%

    Total Votes : 984
    Sign up for our newsletter

    Get all the latest updates from the automobile universe