Chennai Tamil Nadu India January 28, ANI NewsVoir TVS Motor Company has recently acquired a 75% stake in the Swiss E-Mobility Group SEMG The acquisition confirms TVS Motor Company's commitment to expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement.
SEMG is a market-leading provider of E-mobility solutions within the DACH region, operating the largest pure-play E-bike retail chain M-way in Switzerland with close to USD 100 M in revenue. The company has a prestigious portfolio of Swiss mobility brands, including Cilo, Simpel, Allegro and Zenith Bikes. SEMG is able to deliver a seamless and world-class customer experience by combining its extensive physical network and e-Commerce platform with two online platforms and 31 physical stores.
TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years, according to a statement by Venu Srinivasan, Chairman, TVS Motor Company. TVS Motor is committed to being at the forefront of e-personal mobility globally, according to Sir Ralf Speth, Chairman designate, TVS Motor Company. SEMG strengthens our commitment to environmental sustainability with our acquisitions of Norton Motorcycles and EGO Movement. Our customers can choose from a wide variety of technologically advanced and environment friendly products. This acquisition furthers TVS Motor's commitment towards e-personal mobility products, according to Sudarshan Venu, Joint Managing Director, TVS Motor Company. We are strengthening our presence in the rapidly growing segment of e-bikes. SEMG has strong omnichannel distribution and aspirational brands, including Zenith Bikes, Simpel and Cilo. I'm excited to expand the product range further and scale the company in the DACH region and beyond. I want to express my thanks to Rainer Frohlich and CONSTELLATION CAPITAL for this foundation that we will build on. E-bikes are establishing themselves as a de-facto form of personal mobility in Europe due to the increased ease of use, regulatory support, and overall perception as a sustainable form of transport. The market for the bicycles has a significant growth potential due to the current penetration of approximately 15% of the total bicycle population in Europe and growing at a CAGR of 18%.
Rainer Frohlich, Founder and Managing Partner, CONSTELLATION CAPITAL, emphasises that in TVS Motor, we have found the ideal and an exceptionally dynamic partner for SEMG to strengthen and expand the Group's position as a market leader. TVS has 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 it also sets the foundation for future expansion of the group beyond national borders. TVS Motor Singapore Subsidiary, TVS Motor Singapore Pte Ltd., has made the acquisition an all-cash deal.
TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in championing progress through mobility. We take pride in producing internationally aspirational products of the highest quality through innovative and sustainable processes, because of the 100-year legacy of Trust, Value, and Passion for Customers and Exactness. We strive to deliver the best customer experience at all our touch points across 70 countries. We are the only two-wheeler company to have received the prestigious Deming Prize. Power IQS and APEAL surveys have been conducted for five years. We have been ranked No. The Power Customer Service Satisfaction Survey has been in place for the last four years.
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The Swiss E-Mobility Group AG was founded in 2018 as a part of the CONSTELLATION V fund and was advised by one of Switzerland's leading investment firms. SEMG has been pursuing a growth strategy combining organic and inorganic opportunities through the acquisition of various companies in the E-mobility industry since then. SEMG is a Swiss institution in the fast-growing E-mobility market, offering traditional Swiss and other attractive bicycle complementary services via a customer-centric multi-channel strategy in the DACH region. Their portfolio of four own Ebike brands, Simpel, Cilo, Allegro, Zenith, are relevant across all major E-bike segments from E-city, E-mountain bikes to niche segment in Speed Pedelec. SEMG is a key distributor of major E-bike brands, Cube, Haibike, Canondale, Kalkhoff, Focus, Stromer, Moustache, KTM, etc. Customers can choose from a wide variety of E-bike products. The story was provided by NewsVoir.