TVS goals to accumulate electrical bicycle market, Switzerland’s largest e-bike firm


Following Norton Bikes and the EGO motion, SEMG turned the most recent acquisition by TVS Motor Firm.

By :
HT Auto Desk

,
Revised:
January 27, 2022, 17:50 pm


TVS holds 75 per cent stake in SEMG.

TVS Motor Firm on Thursday introduced that it has acquired a 75 per cent controlling stake in Swiss e-Mobility Group (SEMG), Switzerland’s largest electrical bike firm. This may assist the Indian two wheeler producer to consolidate its maintain within the European market. Furthermore, SEMG has develop into the most recent addition to the checklist of firms acquired by TVS. The home two-wheeler model had earlier additionally acquired Norton Bikes and EGO Motion.

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SEMG is likely one of the main e-mobility options inside the DACH sector. The corporate manufactures e-bikes. It additionally owns pure-play e-bike retail chain M-Manner in Switzerland, with revenues of round $100 million. The corporate additionally has a Swiss mobility model portfolio which incorporates Silo, Simpel, Allegro and Zenith.

With this acquisition, TVS goals to faucet into the electrical bicycle phase, which has witnessed main progress in the previous few years owing to the growing give attention to inexperienced mobility. Electrical bicycles are identified to supply an prolonged vary because of Li-ion batteries.

Asserting the acquisition, Venu Srinivasan, President, TVS Motor Firm mentioned that TVS Motor is dedicated to sustainability and has been investing in electrical autos for greater than ten years. He additional added, “The rising international give attention to atmosphere and private wellness is quickly driving demand for brand new mobility options and TVS Motor is investing to drive this alteration.”

Talking on the transfer, Ralph Speth, Nominated Chairman, TVS Motor Firm mentioned that the corporate goals to be on the forefront of e-personal mobility globally. He additional added, “SEMG completes our acquisition of Norton Bikes and the EGO Motion and reinforces our dedication to environmental sustainability. We provide our clients a sexy portfolio of technologically superior and eco-friendly merchandise “

First revealed date: 27 Jan 2022, 17:30 PM IST



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