TVS Motor Company has offered to acquire EV-related technology and assets in Germany, which will be done through its fully-owned subsidiary, TVS Motor (Singapore) Pte. Ltd.
The Hosur-based manufacturer has also notified the Securities and Exchange Board of India of these developments under the Listing Obligations and Disclosure Requirements.
A press release issued by the OEM read, “TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermögensverwaltungs GmbH (name proposed to be changed to Celerity Motor GmbH). The said purchase will help strengthen the TVS’ expansion in the EV 2-wheeler market globally.”
Notably, the company also inaugurated its first experience centre in Singapore recently.
Rahul Nayak, Vice President-International Business, TVS Motor Company, had earlier said, “With many years of commitment to building the international business portfolio, TVS Motor Company has set the benchmark in catering to diverse needs of buyers across the globe. Our launch in Singapore is one step further in expanding globally in achieving our global ambitions.”
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