– TVS takes SEMG. about
– 75 percent stake acquired
– SEMG makes e-bikes
TVS has acquired a new company based in Switzerland. The company acquired a 75 percent stake in the Swiss E-Mobility Group, one of the largest e-bike makers in Europe.
SEMG owns some of the biggest e-bike brands such as Simpel, Cilo, Allegro and Zenith. The company claims it has close to $100 million in revenue, which is a pretty big number for personality mobility space.
It’s pretty clear with this acquisition that TVS has big plans to disrupt personal mobility and EV space. The company was one of the first to enter the EV space, but it seems that TVS has gone full throttle when it comes to developing and expanding EVs.