TVS Motor Group acquires majority stake in British e-bike maker EBCO

8 Apr 2022 , 01:35 AM

TVS Motor Company announced that its wholly owned subsidiary TVS Motor Singapore has acquired a majority stake 70Percentage in EBCO a British company providing smart connected solutions based in United Kingdom and thereby it has become a subsidiary of TVS Motor Singapore as well as the company EBCO 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 is the exclusive distributor of Corratec e-bikes in the UK IKO Sportartikel Handels GmbH Corratec is one of Germanys largest e-bike manufacturers with a manufacturing plant in Bavaria and another upcoming one in Romania TVS Motor Company considers EBCO Limited as a long-term partner to establish a strong presence in the e-bike business The acquisition is for a cash consideration of GBP 1163070