TVS Motor Company Forays Into the Personal E-Mobility Business With a Majority Stake in European E-Bike Brand EGO Movement

18-Sep-2021 Intellasia | 17-SEP-2021 ACN Newswire | TVS Motor Company | 5:02 AM Print This Post

- Taps into sustainable personal mobility solutions with e-bikes

– Eyes European market with customer-centric bike designs, products and unique omnichannel network

– Second major acquisition in Europe after Norton Motorcycles

SINGAPORE, Sept 17, 2021 – (ACN Newswire) – 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.

From Left to Right – (L-R) Sir Ralf Speth, Board of Director, TVS Motor Company; Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company; Mr. Daniel Meyer and Ms. Marie So(Co-Founders, EGO Movement)

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 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.”

Mr. Venu 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.”

Over 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.

Co-founder

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.”

EGO Movement’s product portfolio focuses on delivering sustainable products

with the latest technology and stylish designs.. A powerful battery is blended

harmoniously into the frame, whose ergonomic design allows for a comfortable

upright sitting position. In addition, with technical refinements such as a

powerful mid-motor including a torque sensor, a USB port on the removable

lithium-ion battery and an LED light that automatically switches on at dusk. The unique and innovative design philosophy has

earned the company multiple awards, including the prestigious Red Dot Award.

About TVS

Motor Company

TVS Motor

Company is a reputed two and three-wheeler manufacturer and is the flagship

company of the USD 8.5 billion TVS Group. We believe in Championing Progress

through Mobility. Rooted in our 100-year legacy of Trust, Value, and Passion

for Customers and Exactness, we take pride in making internationally

aspirational products of the highest quality through innovative and sustainable

processes. We endeavour to deliver the most superior customer experience

at all our touch points across 70 countries. We are the only two-wheeler

company to have received the prestigious Deming Prize. Our products lead in

their respective categories in the J.D. Power IQS and APEAL surveys for five

years. We have been ranked No. 1 Company in the J.D. Power Customer

Service Satisfaction Survey for consecutive four years. For more information,

please visit www.tvsmotor.com.

About EGO Movement

Innovative

technology, excellent designs, ten own stores in Switzerland and Germany, as

well as extensive service: EGO Movement’s mission is the e-volution of

mobility. Whether e-bikes, e-cargo bikes, e-scooters or smart networking with

its own software platform – as a Swiss technology company and manufacturer of

technically mature products for high-quality mobility solutions, EGO Movement ensures more individual freedom and makes

a contribution to more Sustainability as well as environmental protection and

above all offers a great driving experience. https://egomovement.com/de/de/

Media contacts:

Namrata Sharma – [email protected]
Neha Chaturvedi – [email protected]

Copyright 2021 ACN Newswire . All rights reserved.

https://www.acnnewswire.com/press-release/english/69690/

 

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