TVS Motor Merges Swiss Subsidiaries into SEMG Holding

Mumbai- TVS Motor Company Ltd., has announced the merger of three of its overseas subsidiaries under a single entity to simplify its European operations. The company received an intimation from its wholly owned subsidiary, TVS Motor (Singapore) Pte. Ltd. (TVSM SG), confirming that effective June 30, 2025, Swiss E-Mobility Group (Schweiz) AG (SEMG CH), Alexand'Ro Edouard'O Passion Velo Sàrl (Passion Velo), and The GO Corporation, Zurich (Go AG) have merged into Swiss E-Mobility Group (Holding) AG (SEMG Holding), a wholly owned subsidiary. The merger has been officially recorded in the Swiss Commercial Registry.

As a result of the merger, SEMG CH, Passion Velo, and Go AG have ceased to exist as independent entities and are no longer considered subsidiaries or step-down subsidiaries of TVSM SG. Consequently, they are no longer step-down subsidiaries of TVS Motor Company.

SEMG CH operated a wide portfolio of e-bikes and e-cargo bikes across Switzerland through an omni-channel retail presence, known for its innovative designs and customer-focused approach. Passion Velo was active in the French-speaking region of Switzerland, offering a range of e-bikes and traditional bicycles. Go AG was a technology-driven e-mobility company delivering smart, connected solutions in Switzerland and Germany. Together, the three entities generated a combined turnover of approximately ₹550 crore during the calendar year 2024.

The merger was driven by strategic objectives including the simplification of the group structure, enhancement of operational synergies, cost optimization, and the easing of compliance and legal requirements across jurisdictions. It also aims to facilitate smoother funding from the parent company.

Although all the entities involved—SEMG Holding, SEMG CH, Passion Velo, and Go AG—are related parties to each other and to the Company, TVS Motor Company was not directly involved in the transaction. The merger was carried out in accordance with Swiss regulations and did not involve any cash or share consideration, as the entities were all wholly owned subsidiaries or step-down subsidiaries of TVSM SG.

This move reflects TVS Motor’s continued focus on strengthening its presence in the European e-mobility market by creating a leaner, more efficient business structure capable of delivering innovation and growth at scale.