TVS Motor buys 75% stake in Swiss e-bike player

Swiss E-Mobility Group SEMG TVS Motor acquired a 75 per cent stake in Switzerland's largest e-bike player, Swiss E-Mobility Group SEMG TVS Motor acquired the stake at Swiss Franc CHF 525.78 per share. The stake amount to 114,658 common equity shares of the SEMG is valued at 75 per cent.

TVS Motor has been investing in electric vehicles for over 10 years and has always been committed to sustainability. Venu Srinivasan, Chairman of TVS Motor Company, said that the increasing global focus on the environment and personal well-being is accelerating demand for new mobility solutions.

TVS believes that the acquisition will help its larger vision of becoming a leader in the e-personal mobility space, and provide its customers with sustainable mobility solutions, and will complement its other recent acquisitions. TVS considers SEMG a long-term partner to establish a strong presence in the e-mobility business.

TVS Motor's Singapore subsidiary, TVS Motor Singapore, recently acquired Norton Motorcycles and EGO Movement, an all-cash deal, confirms TVS Motor Company's commitment to expansion in Europe.

SEMG is a market leader in e-mobility solutions in the DACH region. It is the largest pure-play e-bike retail chain in Switzerland with close to $100 million in revenue. The company has two online platforms and 31 physical stores, along with a portfolio of Swiss mobility brands, including Cilo, Simpel, Allegro, and Zenith bikes.

The market for the e-cycle holds a significant growth potential due to the current penetration of approximately 15 per cent of the total bicycle population in Europe and growing at a CAGR of 18 per cent.

In TVS Motor we have found the perfect partner for SEMG to strengthen and expand the Group's position as a market leader. Rainer Fr hlich, Founder and Managing Partner, said the strategy of having a global leader like TVS is a priority.