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TVS Motor Company acquires Swiss E Mobility Group AG

SEMG, one of the leading providers of e-mobility solutions within the DACH region, operates the largest pure-play e-bike retail chain M-way in Switzerland with close to $100 million in revenue.

January 27, 2022 / 10:07 PM IST
At the signing in ceremony Left to right: Sharad Mohan Mishra, President, Group Strategy, TVS Motor Company, Sudarshan Venu, Joint Managing Director, TVS Motor Company,  Sir Ralf Speth,  Chairman designate, TVS Motor Company, Reto Waeffler - CEO SEMG & Rainer Fröhlich, Founder & Managing Partner, CONSTELLATION CAPITAL.

At the signing in ceremony Left to right: Sharad Mohan Mishra, President, Group Strategy, TVS Motor Company, Sudarshan Venu, Joint Managing Director, TVS Motor Company, Sir Ralf Speth, Chairman designate, TVS Motor Company, Reto Waeffler - CEO SEMG & Rainer Fröhlich, Founder & Managing Partner, CONSTELLATION CAPITAL.

TVS Motor Company on January 27 announced that it has acquired a 75 percent stake in Swiss E Mobility Group AG (SEMG).

With this acquisition, the company is mulling at its expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired, the firm said in a regulatory filing.

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“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,” TVS Motor Company Chairman Venu Srinivasan said.

Speaking on the occasion, the firm's Chairman designate Ralf Speth said that SEMG complements TVS Motors' acquisitions of Norton Motorcycles and EGO Movement. He further said that the acquisition will help strengthen the firm's commitment to environmental sustainability.

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SEMG, one of the leading providers of e-mobility solutions within the DACH region, operates the largest pure-play e-bike retail chain M-way in Switzerland with close to $100 million in revenue.

The firm has a prestigious Swiss mobility brands portfolio and it combines its extensive physical network and e-commerce platform with two online platforms and 31 physical stores, resulting in seamless delivery and world-class customer experience.

Following the increased ease of usage, regulatory support, and overall perception as a sustainable form of transport, e-bikes are now establishing themselves as the de-facto form of personal mobility in Europe. According to details, the e-market for the e-bicycle holds significant growth potential in Europe as the total bicycle population is growing at a CAGR of approximately 18 percent.

"In TVS Motor, we have found the ideal and an exceptionally dynamic partner for SEMG to reinforce and expand the Group's position as a market leader. The strategy of having a global leader like TVS as a majority shareholder not only offers untapped potential in quality assurance and procurement in the global supply chain but also lays the foundation for future expansion of the group beyond national borders," CONSTELLATION CAPITAL's MD Rainer Fröhlich said.

The acquisition has been made in an all-cash deal through TVS Motor’s Singapore Subsidiary -- TVS Motor (Singapore) Pte Ltd.



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