TVS Motor Company’s subsidiary -- TVS Motor (Singapore) has initiated an acquisition of 8,000 equity shares in Killwatt GmbH. Pursuant to the aforementioned acquisition, the shareholding of TVS Motor (Singapore) in Killwatt GmbH will be increased from 25% to 39.28%, by way of newly issued shares of Killwatt GmbH.
This acquisition is aligned with the company’s larger vision of becoming a leading player in the e-personal mobility space and providing its customers with sustainable mobility solutions, and it complements its other recent acquisitions. TVS Motor Company (TVSM) considers Killwatt as a long-term partner to establish a strong presence in the emobility business. To this end, and in light of the company’s successful completion of certain business-linked milestones, TVSM has obtained an additional stake in Killwatt GmbH through its Singapore Subsidiary TVS Motor (Singapore), by way of subscription to newly issued shares of Killwatt GmbH.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
