This is the company's second acquisition in Switzerland in the emobility space during the current financial year, after buying 80 per cent in EGO Movement for $17.9 million in September 2021. SEMG has almost 20 per cent market share in that country. We will acquire the remaining 25 per cent in the company soon. This will help us in expanding our e-mobility presence in remaining countries of Europe and in India, said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
The company is planning to launch SEMG brands – Cilo, Simpel, Allegro, and Zenith – in India by the end of 2022.
This story is from the January 28, 2022 edition of Business Standard.
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This story is from the January 28, 2022 edition of Business Standard.
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