In a bid to globalize the TVS group and participate in the $25 billion global e-bike market, TVS Motor Company on Thursday acquired a 75% stake in the Swiss E-Mobility Group (SEMG). Further TVS Motor plans to acquire the remaining 25 percent in the company soon.
This is TVS Motor’s second acquisition in Switzerland for FY22. In September 2021, it had acquired 80 per cent stake in EGO Movement for $17.9 million.
SEMG is a market-leading provider of e-mobility solutions within the DACH region. DACH region refers to the three Central European countries of Germany (D- Deutschland(German name of Germany), Austria (A), and Switzerland (CH).