TVS Motor Company has bought a majority stake in Switzerland-based e-bike brand EGO Movement for 16.6 million Swiss francs (around Rs 131 crore) to foray into the personal e-mobility segment. The company through its Singapore Subsidiary TVS Motor (Singapore), is acquiring an 80 per cent stake in the brand with 20 per cent left with the existing company promoters.
The partnership with EGO Movement reaffirms TVS Motor Company's commitment towards electrification and the broader sustainability agenda. The company is building a strategic personal e-mobility ecosystem by scaling unique brands which share its vision of delivering compelling customer experience benchmarks through cutting-edge, aspirational products.
TVS Motor Company is a reputed two and three-wheeler manufacturer.