New Dehi – In a strategic move to strengthen its position in the rapidly growing electric mobility sector, TVS Motor (Singapore) Pte Ltd has announced the acquisition of an additional 8,000 equity shares in Killwatt GmbH, bringing its shareholding from 39.28% to 49%.
Killwatt GmbH, a privately held company based in Tirschenreuth, Germany, focuses on the development, design, manufacture, sale, and distribution of electric two-wheeler vehicles. The acquisition, valued at EUR 4 million, aligns with TVS Motor’s broader vision of becoming a key player in the e-personal mobility space.
The indicative time for the completion of the acquisition is March 11, 2024. TVS Motor (Singapore) will pay EUR 2 mn on or before March 4, 2024, with the remaining EUR 2 million contingent on the fulfillment of a specific pre-agreed milestone by Killwatt GmbH, the company said..
Killwatt GmbH, incorporated on July 3, 2020, operates in Germany and was at a pre-revenue stage during the calendar years 2022 and 2023. The acquisition adds momentum to TVS Motor’s recent strategic endeavours in the e-mobility business.
With a focus on electric two-wheelers, Killwatt GmbH is poised to contribute significantly to TVS Motor’s vision of a cleaner and greener future in the personal mobility segment.
