TVS Motor Company Forays Into the Personal E-Mobility Business With a Majority Stake in European E-Bike Brand EGO Movement
SINGAPORE, Sept 17, 2021 – (ACN Newswire) – TVS Motor Company, a reputed two-wheeler andthree-wheeler manufacturer globally, today announced a partnership with EGOMovement as a majority shareholder, in an all-cash deal through its SingaporeSubsidiary TVS Motor (Singapore) Pte Ltd. The partnership is in line with TVSMotor Company’s commitment to building an aspirational product portfolio whilenurturing sustainable and scalable brands. It also reiterates the company’sstrategy to expand its global presence in developed markets, commencing withEurope, 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 aSwiss technology company providing innovative mobility solutions through a portfolioof e-bikes, e-cargo bikes, and e-scooters. The company combines unique designs withinnovative software and hardware to deliver a differentiated customerexperience. It has an omnichannel network across Switzerland, Liechtenstein andGermany with plans to expand across Europe, combining the best of strategicallylocated stores with a seamless online experience.Speaking on the occasion, Mr. SudarshanVenu, Joint Managing Director, TVS Motor Company, said, “The partnership with EGO Movement reaffirms TVS MotorCompany’s commitment towards electrification and the broader sustainability agenda. We are building a strategic personal e-mobility ecosystem by scalingunique brands which share our vision of delivering compelling customerexperience benchmarks through cutting-edge, aspirational products. EGO Movementhas a strong presence in Europe with customer-centric products, a unique omnichannelnetwork and a visionary team at its helm. Together, we will address globalurbanisation by delivering unique e-mobility solutions with e-bicycles andmobility across a diversity of forms.”Mr. Venu further added, “It is also an important milestone inour journey to grow our presence in Europe, with the Norton Motorcyclesacquisition last year and now the launch of the personal e-mobility platform.”Over the past decade, the personal mobility landscape has evolvedsignificantly with the global sustainability agenda, increasing urbanisation andadvancement in battery technology. The global pandemic also became a keycatalyst in accelerating the adaption to personal mobility. The e-bike markethas been at the forefront of personal mobility innovation, with new businessmodels and technologies advancing rapidly with global trends. Varioussub-segments have also emerged to cater to customers’ evolving needs – ranging from citybikes for daily commute to mountain bikes for adventures or cargo bikes forcarrying loads or people.Co-founderand CEO of EGO Movement, Daniel Meyer, commented “As a Swiss based stronglymission-driven company, we are excited to be teaming up such a highly respectedglobal partner and industry leader. Our team is fully committed to taking thecompany to the next phase. We are confident that together with TVS MotorCompany, we will be able to create more value for all partners and customers ofEGO Movement focusing on further growth by following our mission of a greenerway of e-mobility.”EGO Movement’s product portfolio focuses on delivering sustainable productswith the latest technology and stylish designs.. A powerful battery is blendedharmoniously into the frame, whose ergonomic design allows for a comfortableupright sitting position. In addition, with technical refinements such as apowerful mid-motor including a torque sensor, a USB port on the removablelithium-ion battery and an LED light that automatically switches on at dusk. The unique and innovative design philosophy hasearned the company multiple awards, including the prestigious Red Dot Award.About TVSMotor CompanyTVS MotorCompany is a reputed two and three-wheeler manufacturer and is the flagshipcompany of the USD 8.5 billion TVS Group. We believe in Championing Progressthrough Mobility. Rooted in our 100-year legacy of Trust, Value, and Passionfor Customers and Exactness, we take pride in making internationallyaspirational products of the highest quality through innovative and sustainableprocesses. We endeavour to deliver the most superior customer experienceat all our touch points across 70 countries. We are the only two-wheelercompany to have received the prestigious Deming Prize. Our products lead intheir respective categories in the J.D. Power IQS and APEAL surveys for fiveyears. We have been ranked No. 1 Company in the J.D. Power CustomerService Satisfaction Survey for consecutive four years. For more information,please visit www.tvsmotor.com.About EGO MovementInnovativetechnology, excellent designs, ten own stores in Switzerland and Germany, aswell as extensive service: EGO Movement’s mission is the e-volution ofmobility. Whether e-bikes, e-cargo bikes, e-scooters or smart networking withits own software platform – as a Swiss technology company and manufacturer oftechnically mature products for high-quality mobility solutions, EGO Movement ensures more individual freedom and makesa contribution to more Sustainability as well as environmental protection andabove all offers a great driving experience. https://egomovement.com/de/de/Media contacts:Namrata Sharma – namrata.sharma@adfactorspr.comNeha Chaturvedi – neha.chaturvedi@adfactorspr.com Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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