The international expansion of TVS Motor Company has begun as it acquires 75 per cent of the stake in Swiss’s largest e-bike firm, Swiss e-Mobility Group (SEMG). Many might have not heard about the SEMG but in Europe SEMG is quite famous for providing e-mobility solutions especially in the DACH region (Germany, Austria and Switzerland), with M-way, Switzerland’s largest pure-play e-bike retailer, generating close to $100 million (Rs 10 crore) in revenue.
TVS’ latest acquisition is in keeping with the company’s aim to expand its global footprint. Norton Motorcycles and EGO Movement are among the premium and technology-driven brands that the firm is working to develop. SEMG’s portfolio of prominent Swiss mobility brands includes Cilo, Simpel, Allegro and Zenith bicycles. SEMG is able to provide a seamless and world-class consumer experience by integrating its broad physical network and e-commerce platform with two online platforms and 31 physical outlets.
In Europe, e-bikes are gradually becoming the de-facto mode of personal transportation. This is owing to its simplicity of use, legislative support and overall impression as a sustainable mode of transportation. It’s one market that has enormous growth potential especially when it comes to e-bikes. Currently, it has a penetration of around 15 per cent of the overall bicycle population in Europe and a CAGR (compound annual growth rate) of 18 per cent. Let’s see how the Swiss deal turns out to be for TVS Motor Company in the future.