TVS has made a deal through its Singapore subsidiary TVS Motor (Singapore) Pte Ltd. and acquiring a major stake in Swiss electric bicycle maker Ego Movement. Ego Movement has its business in Germany, Liechtenstein, and Switzerland.
TVS to bring out aspirational and sustainable products for personal mobility for develop markets starting with Europe.
Ego Movement offer hardtail electric bicycles in three ranges :
- Classic 25,
- Explorer 25,
- City 25.
All three bicycles feature LED headlamp and tail lamp, removable lithium-ion battery pack, USB port, and disc brakes at both whells.
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.”
“It is also an important milestone in our journey to grow our presence in Europe, with the Norton Motorcycles acquisition last year and now the launch of the personal e-mobility platform.”
TVS has partner with electric vehicle manufacturers and working with Bengaluru-based startup Ultraviolette for a few years.
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