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TVS Motor Acquires Full Ownership Of Swiss E-Bike Firm GO AG
TVS Motor Company has announced that its Singapore-based subsidiary, TVS Motor (Singapore) Pte. Ltd., will acquire an additional 8.26% stake in the Swiss e-bike firm GO AG. The deal, valued at CHF 500,000, will make GO AG a wholly owned subsidiary of TVS Motor.
Keshav Rajput
Updated Mar 27, 2025, 04:05 PM IST
TVS Motor Increases Stake In Swiss E-Bike Company GO AG
TVS Motor (Singapore) Pte. Ltd., a subsidiary of TVS Motor Company, has signed an agreement to acquire an additional 8.26% stake in GO AG. The transaction, valued at CHF 500,000, will increase TVS Motor's ownership in the Swiss company to 100%.
TVS Motor expects to complete the acquisition by March 31, 2025. The deal is categorized as a related-party transaction but has been conducted on an arm’s-length basis.
Financial Performance
GO AG has reported the following turnover figures in recent years:
- CY 2023: Rs 35.96 crore
- CY 2022: Rs 37.88 crore
- CY 2021: Rs 24.92 crore
GO AG is a Swiss technology company providing smart connected mobility solutions through a portfolio of e-bikes and ecargo bikes combining innovative designs which deliver a differentiated customer experience. It has an omni channel network spread across Switzerland and Germany with plans to expand across Europe.
TVS Motor Company Limited (TVSM) considers GO AG as a long-term partner to establish a strong presence in the e-mobility business. To this end, TVSM proposes to obtain the entire stake (100%) in the Target through its Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.
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