TVS bets big on electric cycles, acquires Switzerland’s largest e-bike brand

TVS Motor Company announced the acquisition of 75 percent stake in the biggest electric cycle brand in Switzerland. The acquisition of  Swiss E-Mobility Group (SEMG) is expected to further the Indian company’s electric ambitions. With the acquisition, TVS Motor Company plans to commit to expansion in Europe. Apart from the new EV brand,  TVS has acquired brands such as Norton Motorcycles and EGO Movement in Europe.

What is SEMG?

Swiss E-Mobility Group (SEMG) is the leader of e-mobility solutions within the DACH region. It S. The company has a Swiss mobility brands portfolio, including Cilo, Simpel, Allegro, and Zenith – Bikes.

Announcing the acquisition, Venu Srinivasan, Chairman, TVS Motor Company, said, “TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years. 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.”

Speaking on the occasion, Ralf Speth, Chairman designate, TVS Motor Company, said, “TVS Motor is committed to being at the forefront of e-personal mobility globally. SEMG complements our acquisitions of Norton Motorcycles and EGO Movement and strengthens our commitment to environmental sustainability. We offer our customers a compelling portfolio of technologically advanced and environment friendly products.”

Adding on, 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 – Bikes. I’m excited to enhance the product range further and scale the company in the DACH region and beyond. I’d like to convey my thanks to CONSTELLATION CAPITAL and Rainer Fröhlich for this foundation which we will build on.”

E-bikes have a current penetration of approximately 15 percent of the total bicycle population in Europe and growing at a CAGR of around 18%. TVS claims the market for the e-bicycle holds significant growth potential.

Rainer Fröhlich, Founder and Managing Partner, Constellation Capital, emphasises: “In TVS Motor, we have found the ideal and an exceptionally dynamic partner for SEMG to reinforce and expand the Group’s position as a market leader. The strategy of having a global leader like TVS as a majority shareholder not only offers untapped potential in quality assurance and procurement in the global supply chain but also lays the foundation for future expansion of the group beyond national borders.”

The post TVS bets big on electric cycles, acquires Switzerland’s largest e-bike brand appeared first on BGR India.