TVS Motor Company has acquired a 75 percent stake in the Swiss E-Mobility Group (SEMG). Just so you know, SEMG is Switzerland’s largest e-bike player and through this acquisition, the company will expand its wings further in the European market. It had recently acquired Norton Motorcycles and EGO Movement. SEMG is the operator of the largest pure-play e-bike retail chain M-way in Switzerland with close to USD 100M in revenue. The acquisition has been made in an all-cash deal through TVS Motor’s Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.
The SEMG portfolio comprises of Cilo, Simpel, Allegro, and Zenith e-Bikes. The brand also has an extensive physical network and e-commerce platform with two online platforms and 31 physical stores. Currently, approximately 15 percent of the total population in Europe rides on bicycles. Announcing the acquisition, Mr. Venu Srinivasan, Chairman, TVS Motor Company, said, “TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years. The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions, and TVS Motor is investing to drive this change.”
Adding on, Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “This acquisition furthers TVS Motor’s commitment towards e-personal mobility products. We are strengthening our presence in the rapidly growing e-bikes segment. SEMG has strong omnichannel distribution and aspirational brands, including Cilo, Simpel, and Zenith - Bikes. I’m excited to enhance the product range further and scale the company in the DACH region and beyond. I’d like to convey my thanks to CONSTELLATION CAPITAL and Rainer Fröhlich for this foundation which we will build on.” The e-bicycle market in Europe is witnessing a compound annual growth rate (CAGR) of nearly 18 percent.
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A mechanical engineering dropout by choice, Mayank has been in the auto journalism biz for the past 8 years. He is currently working as an Associate Editor at Droom Discovery and covering each and every aspect of the auto industry. He has worked with a plethora of renowned Auto brands in his illustrious career so far. Being a student of English Literature, his mantras of success are the Never-Say-Never attitude and self-confidence. Mayank likes to travel, read books and listen to music during his free time.
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