Motor Company has announced a partnership with Swiss technology company 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.
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
by the co-founder's Daniel Meyer and Marie So, EGO Movement is a Swiss
technology company providing innovative mobility solutions through a portfolio
of e-bikes and e-cargo bikes. The company combines unique designs with innovative
software and hardware to deliver a differentiated customer experience.
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.
on the occasion, Sudarshan Venu, Joint Managing Director, TVS Motor Company, noted,
“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 omni channel 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.”
further added, “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.”
the past decade, the personal mobility landscape has evolved significantly with
the global sustainability agenda, increasing urbanisation and advancement in
battery technology. The global pandemic also became a key catalyst in
accelerating the adaption to personal mobility. The e-bike market has been at
the forefront of personal mobility innovation, with new business models and
technologies advancing rapidly with global trends. Various sub-segments have
also emerged to cater to customers' evolving needs - ranging from city bikes
for daily commute to mountain bikes for adventures or cargo bikes for carrying
loads or people.
and CEO of EGO Movement, Daniel Meyer, commented “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.”
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