TVS acquires Swiss E-Mobility Group AG

Swiss E-Mobility Group AG (SEMG) is Switzerland's largest e-bike brand.

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%.