TVS Motor Co. has acquired 75% stake in Switzerland’s largest e-bike player Swiss E-Mobility Group for $100 million.
The acquisition has been made in an all-cash deal through TVS Motor (Singapore) Pte Ltd. This is the second acquisition by TVS Motor in recent times after the buyout of majority stake in e-mobility firm EGO Movement — also Swiss — in September.
Asserting that the firm was planning to buy the remaining stake next year, Sudarshan Venu, JMD, TVS Motor, said: “We see this as a key driver of our growth in Europe and other developed markets.”
