TVS Motors Acquires Swiss E-Mobility Group, foresees massive growth in E-Bikes in Europe

TVS Motor Company announced recently, its investment in the electric bicycle maker Swiss E-Mobility Group (SEMG) where it has taken a 75 percent stake. SEMG is a market-leading supplier of electric mobility arrangements inside the DACH sector, running the biggest e-bicycle retail chain M-way in Switzerland with revenue of nearly USD 100 million. The organization's portfolio comprises versatility brands like Cilo, Simpel, Allegro, and Zenith bikes. The brand trades through internet-based platforms and 31 actual stores.

The procurement will give a further lift to extension plans of TVS in Europe through an arrangement of brands that will additionally incorporate Norton Motorcycles and EGO Movement, which were acquired by the Indian bike major earlier. The possession has been made in an all-cash investment through the TVS Motors Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.

TVS Motor has been committed 100% of the time to sustainability and has been putting resources into electric vehicles for over 10 years. The expanding worldwide spotlight on the environmental wellbeing and individual prosperity is quickly speeding up interest for up-to-date mobility solutions and TVS Motor is contributing to drive this change, said the company's chairman.

TVS Motor is focused on being at the cutting edge of e-individual portability all around the world. SEMG enhances our acquisitions of Norton Motorcycles and the EGO Movement and reinforces our debt to natural sustainability. We propose to our clients a reasonable arrangement of products that are mechanically advanced and climate compatible according to a company statement.

E-bicycles are developing monstrously which are well known in Europe for individual portability because of the simplicity of usage, administrative help, and general perception as a reasonable type of transport. With a current infiltration of around 15% of the total bike populace in Europe and developing at a CAGR of ~18%, the market for the e-bike holds huge development potential.

Another statement released from the company continued the conversation by letting people know that, this acquisition advances TVS Motor's duty towards e-personal mobility items. Also, they are enhancing their existence in the quickly evolving e-bikes segment in the European markets.

The Swiss company further added that - In TVS Motor, they have tracked down the ideal and an extraordinarily unique accomplice for SEMG to support and extend the Group's situation as a market leader. The strategy of having a worldwide pioneer like TVS as a greater part investor not just offers undiscovered potential in quality confirmation and obtainment in the worldwide supply chain yet additionally establishes the framework for future development of the group beyond national boundaries.