TVS Motor Company�s Leap into E-Mobility: Acquisition of SEMG

Advaithsingh25 Jan, 2024Business

TVS Motor Company has made a significant stride in the e-mobility sector by acquiring a 75% stake in the Swiss E-Mobility Group (SEMG), Switzerland?s largest e-bike company. This acquisition, which is part of TVS Motor Company?s commitment to expanding in Europe, complements their recent acquisitions of Norton Motorcycles and EGO Movement. SEMG, a market-leading provider of e-mobility solutions in the DACH region, operates the largest pure-play e-bike retail chain, M-way, in Switzerland. The company?s strong omnichannel distribution and prestigious Swiss mobility brands portfolio, including Cilo, Simpel, Allegro, and Zenith ? Bikes, offer a seamless and world-class customer experience. This move by TVS Motor Company is seen as a significant step towards strengthening their presence in the rapidly growing e-bikes segment.