Summary:
Chennai, Tamil Nadu, India (NewsVoir) TVS Motor Company today announced the successful acquisition of a 75% stake in the Swiss E-Mobility Group (SEMG).
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.
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 USD 100M in revenue.
The company 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 able to deliver a seamless and world-class customer experience.
Announcing the acquisition, Mr.