TVS enters e-bike space with EGO Movement purchase

    Published On Sep 17, 2021 11:32:00 AM

    6813 Views

    img

    EGO Movement is a Swiss technology company providing mobility solutions through a portfolio of e-bikes and e-cargo bikes.

    TVS Motor Co has acquired a majority stake in European e-bike brand EGO Movement thereby marking its foray into the personal e-mobility business.

    • EGO Movement is a Swiss company

    • Makes e-bikes and e-cargo bikes

    • TVS aims to grow presence in Europe

    The all-cash deal was conducted through its Singapore subsidiary, TVS Motor (Singapore), and is in line with TVS’ strategy of expanding its global presence in developed markets, commencing with Europe, which serves as the heart of the e-bike mobility landscape.

    “The partnership with EGO Movement reaffirms TVS Motor Company’s commitment towards electrification and the broader sustainability agenda,” Sudarshan Venu, Joint Managing Director, TVS Motor Company, said. “We are building a strategic personal e-mobility ecosystem by scaling unique brands which share our vision of delivering compelling customer experience benchmarks through cutting-edge, aspirational products. The company has a strong presence in Europe with customer-centric products, a unique omni-channel network and a visionary team at its helm. Together, we will address global urbanisation by delivering unique e-mobility solutions with e-bicycles and mobility across a diversity of forms.”

    He added, “It is also an important milestone in our journey to grow our presence in Europe, with the Norton Motorcycles acquisition last year and now the launch of the personal e-mobility platform.”

    EGO Movement is a Swiss technology company providing innovative mobility solutions through a portfolio of e-bikes and e-cargo bikes. It has an omni-channel network across Switzerland, Liechtenstein and Germany with plans to expand across Europe, combining the best of strategically located stores with a seamless online experience.

    Daniel Meyer, co-founder and CEO of EGO Movement, commented, “Our team is fully committed to taking the company to the next phase. We are confident that together with TVS Motor Company, we will be able to create more value for all partners and customers of EGO Movement focusing on further growth by following our mission of a greener way of e-mobility.”

    EGO Movement’s product portfolio focuses on delivering sustainable products with the latest technology and designs. It also has technical refinements such as a powerful mid-motor including a torque sensor, a USB port on the removable lithium-ion battery and an LED light that automatically switches on at dusk.

    Sricharan R

    Also see:

    TVS Raider 125 video review

    TVS Raider 125 image gallery

    TVS Raider 125 review, test ride

    Copyright (c) Autocar India. All rights reserved.

    What do you think about this News
    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Poll of the month

    With fuel prices at an all-time high, will you:

    Switch to a CNG vehicle

     

    18%

    Switch to an EV

     

    39%

    Switch to public transport

     

    10%

    Stick with petrol/diesel

     

    33%

    Total Votes : 1451
    Sign up for our newsletter

    Get all the latest updates from the automobile universe