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TVS Motor’s Swiss e-Mobility buys 100% stake in Passion Velo


Acquisition of the Swiss e-bike retailer for $3 mn to help TVS unit expand network in Switzerland

Acquisition of the Swiss e-bike retailer for $3 mn to help TVS unit expand network in Switzerland

E-bike maker Swiss E-Mobility Group (SEMG), a subsidiary of TVS Singapore, has acquired 100% stake in Alexand’Ro Edouard’O Passion Velo Sarl (PV) for 2.79 million Swiss francs ($3 million).

This acquisition would help Switzerland’s largest e-bike maker to geographically expand its network in the western part of the country and strengthen its retail presence, TVS Motor said in a recent regulatory filing.

TVS Motor Singapore Pte Ltd., is a subsidiary of TVS Motor Co. Ltd.

PV, which owns and manages a large e-bike store in the canton of Neuchatel, Switzerland, is primarily engaged in the sale of e-bikes as well as e-bike accessories across a range of premium e-bike brands such as TREK, Riese & Muller, Cannondale, Moustache and others.

PV was incorporated on March 27, 2009. It reported turnover of 2.99 million Swiss francs in FY21 and 2.85 million Swiss francs in FY20.



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