Biznextindia : TVS Motor (Singapore) Pte. Limited (TVSM Singapore), a wholly-owned subsidiary of TVS Motor has acquired a majority stake (70%) in EBCO Limited, a British company providing smart connected mobility solutions, based in United Kingdom for GBP 1.1 million. Following the acquisition,
EBC has become a subsidiary of TVSM Singapore as well as to the Company.
EBCO Limited is a British company providing smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. The company has tie ups with most major dealers across the United Kingdom (UK). EBCO Limited is the exclusive distributor of Corratec e-bikes in the UK. IKO Sportartikel Handels GmbH (Corratec) is one of Germany’s largest e-bike manufacturers with a manufacturing plant in Bavaria and another upcoming one in Romania. Through this acquisition, TVS aims to establish a strong presence in the e-bike segment.