TVS Motor acquires 75% in largest Swiss e-bike player SEMG for $100 million

This will be the firm's second acquisition in Switzerland in e-mobility space in FY22. It took an 80% stake in EGO Movement for $17.9 mn in Sept 2021

TVS Motor Company, the flagship firm of the $8.5-billion TVS Group, has acquired a 75 per cent stake in Swiss e-Mobility Group (SEMG) for $100 million (about Rs 752 crore).

This is the company’s second acquisition in Switzerland in the e-mobility space during the current financial year, after buying 80 per cent in EGO Movement for $17.9 million in September 2021. “SEMG has almost 20 per cent market share in that country. We will acquire the remaining 25 per cent in the company soon. This will help us in expanding our e-mobility presence in remaining countries of Europe and in