The acquisition will help strengthen the TVS Motor Company’s expansion in the electric two-wheeler market globally.

The TVS iQube price starts at Rs 99,130 (on-road, New Delhi).

By Varun Singh: TVS Motor Company on Friday announced that it has signed an agreement to acquire electric vehicle (EV)-related technology and assets in Germany. The two-wheeler and three-wheeler manufacturer has inked the pact through its wholly-owned subsidiary, TVS Motor (Singapore).

TVS Motor Company, through its wholly-owned subsidiary i.e. TVS Motor (Singapore) has signed an agreement to acquire EV-related technology and assets in Germany, the company said in a regulatory filing.

“TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermögensverwaltungs GmbH (name proposed to be changed to Celerity Motor
GmbH),” it added.

The acquisition will help strengthen TVS Motor Company’s expansion in the electric two-wheeler market globally.

At present, TVS Motor Company sells iQube electric scooter in India. While the TVS iQube is priced at Rs 99,130 (on-road, New Delhi), the TVS iQube S costs Rs 1,04,123 (on-road, New Delhi).

TVS Motor Company has also made investments in EV start-up Ultraviolette, which recently launched the F77 electric motorcycle in India in the price range of Rs 3.80 lakh to Rs 5.50 lakh (ex-showroom).