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TVS Motor Company acquires Switzerland's largest e-bike player - Swiss E-Mobility Group AG (SEMG)
Announcing the acquisition, aid, "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."
Speaking on the occasion, said, "TVS Motor is committed to being at the forefront of e-personal mobility globally. SEMG complements our acquisitions of Norton Motorcycles and EGO Movement and strengthens our commitment to environmental sustainability. We offer our customers a compelling portfolio of technologically advanced and environment friendly products."
Adding on, , said,
E-bikes are establishing themselves as the de-facto form of personal mobility in Europe due to the increased ease of usage, regulatory support, and overall perception as a sustainable form of transport. With a current penetration of approximately 15% of the total bicycle population in Europe and growing at a CAGR of ~18%, the market for the e-bicycle holds significant growth potential.
The acquisition has been made in an all-cash deal through TVS Motor's Singapore Subsidiary, TVS Motor ( Singapore ) Pte Ltd.
TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 70 countries. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.
For more information, please visit www.tvsmotor.com.
The Swiss E-Mobility Group AG was incepted as a part of the CONSTELLATION V fund in 2018, and advised by CONSTELLATION CAPITAL AG, one of Switzerland's leading investment firms. Since then, SEMG has been pursuing a growth strategy combining organic and inorganic opportunities through the acquisition of various companies in the e-mobility industry. SEMG represents a Switzerland based institution in the fast-growing e-mobility market, offering traditional Swiss and other attractive bicycle complementary services via a customer-centric multi-channel strategy in the DACH region. Their portfolio of four own e-bike brands (Simpel, Cilo, Allegro, Zenith) are relevant across all major e-bike segments from E-city, E-mountain bikes to niche segment in Speed Pedelec. SEMG's role as a key distributor of major e-bike brands (Cube, Haibike, Canondale, Kalkhoff, Focus, Stromer, Moustache, KTM, etc.) also provides customers with a holistic range of e-bike products to choose from.
https://www.semg.ch/
Photo: https://mma.prnewswire.com/media/1736103/TVS_SEMG.jpg