TVS Motor Company has announced that the brand is expanding its portfolio. The company revealed that it has now made investments in Swiss E-Mobility Group AG (SEMG). One of India’s leading two-wheeler and three-wheeler manufacturers has successfully acquired 75% stakes in the Swiss E-Mobility Group (SEMG), revealed TVS. SEMG also confirms that the brand will expand in Europe through a portfolio of premium and technologically leading brands. TVS Motor Company has also revealed that the brand also recently acquired the Norton Motorcycles and EGO Movement. TVS is also further proving its commitment to sustainability through e-mobility. The company has been investing in electric vehicles for over 10 years now and is committed to e-mobility. Thanks to the new investment, TVS will also have a global focus on the environment. Also, the brand will also accelerate the demand for newer mobility solutions.
About Swiss E-Mobility Group
Swiss E-Mobility Group (SEMG) is a market leader in e-mobility solutions within the DACH region. The e-mobility company employs the largest pure-play e-bike retail chain, M-way in Switzerland. SEMG is capable of generating close to USD 100 million in revenue. The company also includes brands such as Cilo, Simpel, Allegro, and Zenith. SEMG boasts to be capable of delivering world-class customer service thanks to the extensive physical network and e-commerce platform. SEMG has two online platforms in addition to 31 physical stores.
SEMG and TVS
With a majority stake in SEMG, TVS Motor Company will make further development in the e-bike segment. The brand is likely to enhance its product range further and scale the company in the segment. e-bikes are soon to become the future of personal mobility in Europe and thanks to this, the market is also witnessing an increase in ease of usage and regulatory support. The current penetration of e-bikes is around 15% of the total bicycle population in Europe. However, the rise in the CAGR of ~18% means that the market for the e-bicycle holds significant growth potential.
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