TVS Motor acquires 75% stake in Swiss E Mobility Group AG (SEMG).


Published On: Friday, January 28, 2022 | By:

TVS Motor acquires 75% stake in Swiss E Mobility Group AG (SEMG).

TVS Motor Company has acquired a 75 percent stake in the Swiss e-Mobility Group (SEMG) for $100 million (about Rs 752 crore). TVS Motor plans to buy the remaining 25% stake by next year. The acquisition has been made in an all-cash deal through TVS Motor’s Singapore Subsidiary, TVS Motor (Singapore) Pte. This is the company’s second acquisition in Switzerland in the e-mobility space during the current financial year, after buying 80 percent in EGO Movement for $17.9 million in September 2021. In a statement, the company said, the acquisition reaffirms TVS Motor Company’s commitment to expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired.“This acquisition furthers TVS Motor’s commitment towards e-personal mobility products. He further said that the acquisition will help strengthen the firm's commitment to environmental sustainability.

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 $100 million in revenue.  SEMG has two online platforms and 31 physical stores.SEMG has a prestigious Swiss mobility brands portfolio, including Cilo, Simpel, Allegro, and Zenith – Bikes. By combining its extensive physical network and e-commerce platform with two online platforms and 31 physical stores, SEMG is in a position to deliver a seamless and world-class customer experience.

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