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TVS Buys 75% Stake In SEMG — Forays into E-Bike Market
Indian two-wheeler manufacturer TVS has acquired a majority stake in Swiss E-Mobility Group as it continues its expansion into Europe. The Chennai-based two-wheeler manufacturer has purchased a 75 per cent stake in the Swiss e-bike manufacturer which is a major player in the DACH region.
Swiss E-Mobility Group is a market leader in providing e-mobility solutions in Germany, Austria and Switzerland (the DACH region). The Swiss marque operates the largest pure-play e-bike retail chain M-way in Switzerland with close to $100 million in revenue. The company has a prestigious Swiss mobility brands portfolio, including Cilo, Simpel, Allegro, and Zenith - Bikes. By combining its extensive physical network and e-commerce platform with two online platforms and 31 physical stores, SEMG is able to deliver a seamless and world-class customer experience, states the press release from TVS announcing the acquisition of the Swiss marque.
Announcing the acquisition, 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."
Sir Ralf Speth, Chairman designate, TVS Motor Company, stated, "TVS Motor is committed to being at the forefront of e-personal mobility globally. SEMG complements our acquisitions of Norton Motorcycles and EGO Movement and strengthens our commitment to environmental sustainability. We offer our customers a compelling portfolio of technologically advanced and environment friendly products."
Also speaking about the acquisition, 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."
Rainer Fröhlich, Founder and Managing Partner, Constellation Capital, added his thoughts on the deal "In TVS Motor, we have found the ideal and an exceptionally dynamic partner for SEMG to reinforce and expand the Group's position as a market leader. The strategy of having a global leader like TVS as a majority shareholder not only offers untapped potential in quality assurance and procurement in the global supply chain but also lays the foundation for future expansion of the group beyond national borders."
E-bikes are fast becoming the de-facto form of personal mobility in Europe. This is due to the increased ease of use, regulatory support and the overall perception of e-bikes as a sustainable form of transport. E-bikes currently account for 15 per cent of the total bicycles currently sold in Europe and with growth increasing by 18 per cent, the market for e-bikes especially in the old continent holds much promise.
Thoughts On The TVS Deal To Acquire SEMG
TVS continues its march into Europe with yet another acquisition in the form of SEMG. The Indian two-wheeler giant's latest asset sees it step into the world of e-bikes which are quickly becoming very popular in Europe as a clean and easily available form of personal mobility.