TVS Motor Company forays into personal e-mobility business with majority stake in European e-bike brand EGO Movement

TVS Motor Company, a reputed two-wheeler and three-wheeler manufacturer globally, today announced a partnership with EGO Movement as a majority shareholder, in an all-cash deal through its Singapore Subsidiary TVS Motor (Singapore) Pte Ltd. The partnership is in line with TVS Motor Company’s commitment to building an aspirational product portfolio while nurturing sustainable and scalable brands. It also reiterates the company’s strategy to expand its global presence in developed markets, commencing with Europe, which serves as the heart of the e-bike mobility landscape.  Led by the co-founders Daniel Meyer and Marie So, EGO Movement is a Swiss technology company providing innovative mobility solutions through a portfolio of e-bikes, e-cargo bikes, and e-scooters. The company combines unique designs with innovative software and hardware to deliver a differentiated customer experience. It has an omnichannel network across Switzerland, Liechtenstein and Germany with plans to expand across Europe, combining the best of strategically located stores with a seamless online experience. Speaking on the occasion, Mr. 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