TVS picks 75 pc in SEMG, largest e-bike firm in Switzerland

TVS Motor Company has announced the acquisition of a 75% stake in the Swiss E-Mobility Group (SEMG). This reaffirms its commitment to expand in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired.
Representative image
Representative image

Chennai

The acquisition has been made in an all-cash deal through TVS Motor’s Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.
SEMG is a 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 $100 mn in revenue. It has mobility brands like Cilo, Simpel, Allegro, and Zenith – Bikes. Venu Srinivasan, Chairman, TVS Motor Company, said, “We have been investing in EVs for over 10 years. The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions.”

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