TVS Motor Group acquires majority stake in British e-bike maker EBCO

TVS Motor Company announced that its wholly owned subsidiary, TVS Motor (Singapore) has acquired a majority stake (70%) in EBCO, a British company providing smart connected solutions, based in United Kingdom and thereby it has become a subsidiary of TVS Motor (Singapore) as well as the company.

EBCO is a British company providing smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. The company has tie ups with most major dealers across the United Kingdom (UK).

EBCO is the exclusive distributor of Corratec e-bikes in the UK. IKO Sportartikel Handels GmbH (Corratec) is one of Germany's largest e-bike manufacturers with a manufacturing plant in Bavaria and another upcoming one in Romania.

TVS Motor Company considers EBCO Limited as a long-term partner to establish a strong presence in the e-bike business.

The acquisition is for a cash consideration of GBP 1,163,070.

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