TVS acquires stakes in startups to drive electric transformation, backed by a strategic partnership with BMW Motorrad.
TVS Motor Company is forging a new path in its pursuit of becoming a “smart mobility company”. The firm’s latest strategy involves acquiring stakes in innovative startups such as EBCO, Drive X, ION Mobility, and SEMG. Revealed at the 31st Annual General Meeting, this approach aims to incorporate the acquired companies’ expertise to drive TVS’s transition into smart mobility.
TVS aims to foster the unique dynamics of these startups while simultaneously leveraging their potential to add value to its core business. Chairman Ralf Speth shared, “The experienced TVS team is leading the transition into smart mobility. With very well-selected acquisitions, TVS strengthened its capabilities further.”
TVS isn’t just limiting itself to conventional electric two-wheelers. The acquisition of SEMG in Switzerland has opened the gates to emerging trends like electric bicycles, e-kick scooters, and e-cargo bikes. TVS’s global partner, BMW Motorrad, is set to aid in expanding the company’s electric expertise.
TVS has a dedicated team working on electrification to ensure the delivery of robust, reliable products. The Indian EV two-wheeler industry saw a significant surge in FY22, selling 7.18 lakh units, a twofold increase over the previous year. Speth said, This growth is powered by factors such as low ‘Total Cost of Ownership,’ digital-first technologies, and the support of government initiatives like FAME II and PLI.
As electric mobility continues to accelerate, TVS plans to roll out new products featuring the latest in electric/electronic architectures and high energy efficiencies. The company also plans to fully utilize the PLI and FAME II initiatives to establish a dominant position in the EV sector. In partnership with BMW Motorrad, TVS aims to co-design and develop EVs for global markets.
“Our team is determined to deliver additional value for our customers. TVS is leading the way to smarter EV mobility and better living conditions,” assured Speth.
