TVS acquires Swiss E-Mobility Group AG

TusharK · 28th January 2022, 17:45

The TVS Motor Company has acquired Switzerland-based Swiss E-Mobility Group AG (SEMG). The acquisition was made through the company's Singapore subsidiary.

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TVS now controls a 75% stake in SEMG - Switzerland's largest e-bike brand. SEMG operates the largest pure-play E-bike retail chain called M-way with a revenue of US$100 million.

SEMG's portfolio includes bike brands like Cilo, Simpel, Allegro and Zenith. The company has an extensive physical network with 31 stores and two online retail platforms.

E-bikes are extremely popular in Europe. Currently, 15% of the total bicycles sold in Europe are e-bikes and this is expected to grow at a CAGR of around 18%.

Link to Team-BHP News

28th January 2022, 17:45	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,688 Thanked: 58,808 Times	TVS acquires Swiss E-Mobility Group AG The TVS Motor Company has acquired Switzerland-based Swiss E-Mobility Group AG (SEMG). The acquisition was made through the company's Singapore subsidiary. TVS now controls a 75% stake in SEMG - Switzerland's largest e-bike brand. SEMG operates the largest pure-play E-bike retail chain called M-way with a revenue of US$100 million. SEMG's portfolio includes bike brands like Cilo, Simpel, Allegro and Zenith. The company has an extensive physical network with 31 stores and two online retail platforms. E-bikes are extremely popular in Europe. Currently, 15% of the total bicycles sold in Europe are e-bikes and this is expected to grow at a CAGR of around 18%. Link to Team-BHP News Last edited by TusharK : 28th January 2022 at 17:46.
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