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.