E-mobility
TVS Motor has acquired a 75% stake in e-bike maker Swiss E-Mobility Group (SEMG). SEMG is a market-leading provider of e-mobility solutions. The 75% stake has been acquired at a price of Rs 490 crore. The firm plans to buy out the remaining 25% stake next year.
The current acquisition will offer TVS $100 million in revenues from the growing e-bike space of Europe. Earlier, TVS had acquired EGO Mobility, a Swiss e-mobility solutions company, and Norton Motorcycles.
TVS will bring SEMG’s four brands- Cilo, Simpel, Allegro, and Zenith this year.
