- TVS acquires SEMG
- 75 per cent stake acquired
- SEMG makes e-bikes
TVS has acquired a new company that is based out of Switzerland. The company acquired 75 per cent stake in Swiss E-Mobility Group – one of the biggest e-bike makers in Europe.
SEMG owns some of the biggest e-bike brands like Simpel, Cilo, Allegro and Zenith. The company claims that it has close to USD 100 million revenue which is quite a big number for personality mobility space.
It is quite clear with this acquisition that TVS has big plans to disrupt the personal mobility and EV space. The company was one of the first ones to enter the EV space, but it looks like TVS has gone in full-throttle mode when it comes to EV development and expansion.
