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By MT Bureau| Sep 17, 2021

TVS Majority Stakeholder In Swiss E-Mobility Company

TVS Motor Company announced a partnership with EGO Movement, a Swiss electric mobility company, as a majority shareholder in an all-cash deal placed through its Singapore subsidiary.

EGO Movement provides innovative mobility solutions through its portfolio of e-bikes, e-cargo bikes and e-scooters. The company, by combining unique designs with innovative software and hardware, has created an omnichannel network across Switzerland, Liechtenstein and Germany. EGO also plans to expand across Europe.

TVS, recognising the demand for sustainable personal mobility in recent times, has invested in EGO to expand its global presence in developed markets, in Europe especially, which serves as the heart of the e-bike mobility landscape.

Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “The partnership with EGO Movement reaffirms TVS Motor Company’s commitment towards electrification and the broader sustainability agenda. We are building a strategic personal e-mobility ecosystem by scaling unique brands which share our vision of delivering compelling customer experience benchmarks through cutting-edge, aspirational products. EGO Movement has a strong presence in Europe with customer-centric products, a unique omnichannel network and a visionary team at its helm. Together, we will address global urbanisation by delivering unique e-mobility solutions with e-bicycles and mobility across a diversity of forms.”

Daniel Meyer, Co-founder and CEO, EGO Movement, said, “As a Swiss-based strongly mission-driven company, we are excited to be teaming up such a highly respected global partner and industry leader. Our team is fully committed to taking the company to the next phase. We are confident that together with TVS Motor Company, we will be able to create more value for all partners and customers of EGO Movement focusing on further growth by following our mission of a greener way of e-mobility.” (MT)

 

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