Begin typing your search...
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.
By
migrator
migrator
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.”
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android
Next Story
