- German electric two-wheeler acquired via TVS Singapore
- This acquisition will strengthen its electric portfolio
- Details about upcoming products unavailable yet
TVS Motor Company has announced that its fully-owned subsidiary, TVS Motor (Singapore) Pte. Ltd. has acquired EV-related technology and assets in Germany. The Hosur-based manufacturer made the announcement to the Securities and Exchange Board of India under the Listing Obligations and Disclosure Requirements.
TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermögensverwaltungs GmbH. This is proposed to be renamed Celerity Motor GmbH and it will help the company strengthen its expansion in the electric two-wheeler market globally. However, the company has not yet released its plans for electric vehicle expansion.
Meanwhile, TVS Motor Company currently offers one electric two-wheeler, the iQube which is sold in three variants – Standard, iQube S, and iQube ST. The three variants are distinguished through their respective top speed and battery capacity. These vehicles rival the likes of Ather 450X and Ola S1 series in the Indian market.
