TVS Motor Company Expands Stake in Killwatt GmbH.

In a strategic move to fortify its presence in the electric mobility sector, TVS Motor Company's Singapore-based arm has announced a significant increase in its stake in Killwatt GmbH, a pioneering German start-up specializing in electric mobility products and components. With the acquisition of an additional 8,000 equity shares for 4 million euros (over Rs 35 crore), TVS Motor (Singapore) Pte Ltd will now hold a substantial 49% ownership in Killwatt GmbH.

This latest development underscores TVS Motor Company's commitment to staying at the forefront of the rapidly evolving electric vehicle landscape. By deepening its collaboration with Killwatt GmbH, the company aims to leverage synergies and technological advancements to enhance its offerings in the electric two-wheeler segment.

The acquisition transaction entails TVS Motor (Singapore) Pte Ltd procuring 8,000 newly issued equity shares in Killwatt GmbH, resulting in a notable increase from its previous 39.28% shareholding to the current 49%. The total consideration for this acquisition stands at 4 million euros, with 2 million euros slated for payment on or before March 4th. The remaining 2 million euros will be disbursed upon the successful completion of a predetermined milestone by Killwatt GmbH.

Killwatt GmbH, a privately held entity, boasts a diverse portfolio encompassing the development, design, manufacturing, sale, and distribution of electric two-wheeler products and components. Through this strategic partnership, TVS Motor Company aims to capitalize on Killwatt's expertise and innovation in electric mobility, further strengthening its foothold in this burgeoning market segment.

As the global automotive industry continues to witness a paradigm shift towards sustainable mobility solutions, TVS Motor Company remains at the forefront of driving innovation and ushering in a new era of electric mobility. With its expanded stake in Killwatt GmbH, the company is poised to introduce cutting-edge electric two-wheelers that not only meet but exceed the evolving needs and expectations of consumers worldwide.

Stay tuned for more updates as TVS Motor Company continues to spearhead innovation and shape the future of electric mobility.