TVS Motor Company has announced a major restructuring of its European operations, merging three of its Swiss subsidiaries into Swiss E-Mobility Group (Holding) AG (SEMG Holding). The move is designed to simplify the group structure, enhance operational efficiency, and optimize costs within its international electric mobility business.
The subsidiaries involved in the merger are Swiss E-Mobility Group (Schweiz) AG (SEMG CH), Alexand’RoEdouard’O Passion VeloSàrl (Passion Velo), and The GO Corporation (Go AG). As of June 30, 2025, these entities will no longer operate independently and have been fully integrated into SEMG Holding, which is a wholly owned subsidiary of TVS Motor (Singapore) Pte Ltd, a 100% subsidiary of TVS Motor Company.
Previously, SEMG CH and Passion Velo were focused on the Swiss market, with Passion Velo targeting the French-speaking regions, while Go AG provided smart, connected e-bike solutions in Switzerland and parts of Germany. The merger, which follows all required Swiss regulatory procedures, does not involve any cash payments or share exchanges, as it is carried out among fully owned or step-down subsidiaries of TVS Motor. Though this qualifies as a related party transaction under SEBI rules, TVS Motor itself is not a direct party to the merger.
The company noted that the consolidation was driven by several factors, including simplifying the group’s legal and compliance structure, boosting operational efficiency, facilitating better funding integration from the parent company, and cutting costs. In 2024, the combined turnover of the merged entities was ₹550 crore.
TVS Motor also emphasized that this merger will not affect the company’s shareholding structure. This restructuring is part of TVS Motor’s broader strategy to strengthen its position in the European electric mobility market and improve the efficiency of its international operations.
TVS Motor Company is a globally recognized manufacturer of two and three-wheelers, driving progress through sustainable mobility. With four state-of-the-art manufacturing facilities in India and Indonesia, the company is rooted in a 100-year legacy of trust, value, and a commitment to customers.
TVS Motor is proud to produce internationally acclaimed products of the highest quality through innovative and sustainable processes. It is the only two-wheeler company to have won the prestigious Deming Prize, and its products consistently top their categories in the J.D. Power IQS and APEAL surveys. For four consecutive years, the company has been ranked No. 1 in the J.D. Power Customer Service Satisfaction Survey.
TVS Motor’s group company, Norton Motorcycles, based in the UK, is one of the most iconic motorcycle brands globally. Additionally, its subsidiaries in the personal e-mobility sector, Swiss E-Mobility Group (SEMG) and EGO Movement, hold a leading position in the Swiss e-bike market. TVS Motor Company remains dedicated to delivering an exceptional customer experience across 80 countries.
