TVS Motor Company today announced the successful acquisition of a 75% stake in the Swiss E-Mobility Group. With this acquisition, TVS aims to expand in Europe through a portfolio of premium and technology-leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired. SEMG is a provider of e-mobility solutions within the DACH region, operating the largest pure-play e-bike retail chain M-way in Switzerland.
Official statements
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.”
Speaking on the occasion, Sir Ralf Speth, Chairman designate, TVS Motor Company, said, “TVS Motor is committed to being at the forefront of e-personal mobility globally. SEMG complements our acquisitions of Norton Motorcycles and the EGO Movement and strengthens our commitment to environmental sustainability. We offer our customers a compelling portfolio of technologically advanced and environmentally friendly products.”
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.”
TVS and Norton
Back in 2020, TVS acquired British motorcycle brand ‘Norton’ in an all-cash deal by acquiring certain assets of Norton Motorcycles (U.K.) Limited through one of TVS Motors’ overseas subsidiaries. Norton is known for its classic models and eclectic range of luxury motorcycles. On 11th November, Norton Motorcycle announced the completion of its new global headquarters. The all-new facility houses state-of-the-art forms manufacturing capability and the company’s new design and R&D hub. It is a key part of Norton’s strategic growth plan on its journey to becoming the world leader in luxury hand-crafted motorcycles.