TVS buys majority stake in e-bike brand EGO Movement, forays into personal e-mobility business
India Today
The partnership is in line with TVS’s commitment to building a product portfolio while nurturing sustainable and scalable brands.
TVS Motor Company 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’s commitment to building a 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.
Sudarshan Venu, joint MD, 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.”
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