TVS Motors to acquire EV assets in Germany through a Singapore-based subsidiary

The two to three-wheeler maker has also made substantial inroads in the European electric mobility market with its acquisition of Swiss E-mobility Group and the EGo movement.

Autocar Pro News Desk By Autocar Pro News Desk calendar 10 Dec 2022 Views icon5576 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

TVS Motors Company through its wholly owned subsidiary TVS Motor Singapore has signed an agreement to acquire its EV technologies-related assets in Germany, the company has said.

As part of the arrangement TVS Singapore division, a subsidiary of BBT 35/22 Vermögensverwaltungs GmbH has changed its name to Celerity Motor GmbH.

The entire transaction will give wings to TVS expansion in the global electric two-wheeler market alongside its acquisition of Norton, Swiss E-Mobility Group, and EGO Movement to build EV capabilities as it is developing an electric two-wheeler platform with BMW Motorrad in the sub-15-watt hour range.

The TVS owned UK based Norton Motorcycles is working on an electric superbike in the EV luxury segment

The two to three-wheeler maker has also made substantial inroads in the European electric mobility market with its acquisition of Swiss E-mobility Group and the EGo movement.

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