Indian TVS Motor Company acquires majority stake in EGO Movement

Led by the Co-founder's Daniel Meyer and Marie So, EGO Movement is a Swiss technology company providing innovative mobility solutions through a portfolio of e-bikes, e-cargo bikes, and e-scooters. The company combines unique designs with innovative software and hardware. It has an omnichannel network across Switzerland, Liechtenstein and Germany with ten own stores in its home country and Germany. The team plans to expand across Europe, combining the best of strategically located stores with a seamless online experience.

Headquartered in Chennai, TVS Motor is one of the largest two-wheeler manufacturers in the world. With the acquisition of EGO Movement, TVS Motor is now gaining a foothold in the European market for electric bicycles. Speaking on the occasion, Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “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.”

Co-founder and CEO of EGO Movement, Daniel Meyer, commented “As a Swiss based strongly mission-driven company, we are excited to be teaming up such a highly respected global partner and industry leader. Our team is fully committed to taking the company to the next phase. We are confident that together with TVS Motor Company, we will be able to create more value for all partners and customers of EGO Movement focusing on further growth.”

(Press release / SK)

Picture L-R: Sir Ralf Speth, Board Member TVS Motor, Sudarshan Venu, Joint Managing Director TVS Motor, Daniel Meyer, CEO and Co-founder EGO Movement, Marie So, CSO and Co-founder EGO Movement.
(Picture by Thomas von Aagh)