Indian motorcycle manufacturer TVS has been working hard towards its expansion overseas, particularly in Europe. Last year, the company acquired the rights to legendary motorcycle brand Norton, and has since been working on the revival of the brand. The company has recently done some tweaks to the inner workings of Norton and has even built a factory with the potential to manufacture 8,000 bikes per year.
Now, while the story of the TVS-Norton acquisition is indeed an exciting revival story yet to be seen in its entirety, the Indian company has recently shifted its attention towards the future of mobility in Europe. If Norton is all about heritage and performance, EGO Movement is all about developing sustainable electric personal mobility solutions for tomorrow. The Swiss startup, which has just been acquired by TVS Motor (Singapore) Pte Ltd., TVS Motor Company’s Singapore-based subsidiary was purchased in an all-cash deal.
The new acquisition serves as TVS Motor Company’s first foray into the EV segment in the international market, and is in line with its mission towards building a product portfolio centering on sustainable, environmentally friendly mobility. On top of this, it gives TVS a strong foothold in the rapidly growing lightweight EV segment, particularly in developed markets in Europe.
Sudarshan Venu, Joint Managing Director of TVS Motor Company stated in a report on Indian Autos Blog, “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.”
EGO Movement is a Swiss technology company specializing in the development of innovative mobility solutions ranging from e-bikes, e-cargo bikes, and e-scooters. It currently operates across multiple Eastern European countries such as Switzerland, Lichtenstein, and parts of Germany. Given the acquisition of the company, we can expect an even more aggressive roll-out of products in the months and years to come.
Sources: AutoCar India, Express Drives