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<p><a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS Motor Company</a>, an Indian automotive manufacturer, announced that it has acquired a 75% stake in the Swiss E-Mobility Group (<a href="https://www.semg.ch/" target="_blank" rel="noopener">SEMG</a>).</p>
<p>The company made the acquisition in an all-cash deal through its Singapore-based subsidiary, TVS Motor (Singapore) Pte Limited.</p>
<p>The company said the acquisition is part of its expansion plans in Europe through a portfolio of premium and technology-leading brands. It has recently acquired Norton Motorcycles and EGO Movement.</p>
<p>SEMG provides e-mobility solutions within the DACH region, including three central European countries Germany, Austria, and Switzerland. It operates one of the largest electric bike retail chains M-way in Switzerland, with a revenue of $100 million.</p>
<p>The company’s Swiss mobility portfolio includes electric bikes like Cilo, Simpel, Allegro, and Zenith. It has two online e-commerce platforms and 31 retail stores.</p>
<p>Electric bikes are fast gaining popularity for personal mobility in Europe because of their ease of usage, regulatory support, and overall perception of a sustainable form of transport. The electric bike market holds significant growth potential as the existing penetration of around 15% of the total bicycle population in Europe and growing at a compound annual growth rate (CAGR) of 18%.</p>
<p>Commenting on the acquisition, Sudarshan Venu, joint managing director, TVS Motor Company, said, “This acquisition furthers TVS Motor’s commitment towards e-personal mobility products. We are strengthening our presence in the rapidly growing e-bikes segment. SEMG has strong omnichannel distribution and aspirational brands, including Cilo, Simpel, and Zenith. I am excited to enhance the product range further and scale the company in the DACH region and beyond.”</p>
<p>Earlier this month, the company <a href="https://mercomindia.com/daily-news-wrap-up-adani-posco-renewable-energy/" target="_blank" rel="noopener">announced</a> a strategic partnership with Swiggy to test the implementation of its electric two-wheelers for Swiggy’s food delivery and other on-demand services.</p>
<p>Last month, Ultraviolette Automotive, a Bengaluru-based electric vehicle startup, <a href="https://mercomindia.com/ultraviolette-automotive-raises-series-c-funding/" target="_blank" rel="noopener">raised</a> an undisclosed amount in a Series C funding round led by TVS Motor Company. Zoho Corporation also participated in the funding round.</p>
<p>TVS Motor boasts of an annual sale of more than 3 million units and an annual capacity of over 4.95 million vehicles. TVS Motor is also one of the largest exporters in India, with exports to over 60 countries.</p>
<p>With rising fossil fuel prices and increasing choices among electric vehicles (EV), established automobile firms and startups are <a href="https://mercomindia.com/ev-gear-up-breakthrough-year-2022/" target="_blank" rel="noopener">investing</a> heavily to develop the EV ecosystem in India. The EV companies expect the sector to gain significant momentum in 2022.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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TVS Acquires a 75% Stake in Electric Vehicle Company Swiss E-Mobility Group

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