Corporate News     05-Apr-23
TVS Motor acquires 25% in Killwatt GmbH
TVS Motor Company's subsidiary, TVS Motor (Singapore) has agreed to acquire 25% stake in Killwatt GmbH by way of newly issued shares of Killwatt GmbH.

Killwatt is a privately held GmbH in 95643 Tirschenreuth, Germany. Killwatt's business comprises development, design, manufacture, sale and distribution of high tech products and components in the field of, inter alia, electric two-wheeler and three-wheeler vehicles

Offering rationale to the acquisition, the company said. "Killwatt presents great potential which has been conceptualised by the company. This acquisition is aligned with our larger vision of becoming a leading player in the e-personal mobility space and providing our customers with sustainable mobility solutions, and it complements our other recent acquisitions. TVS Motor Company Limited (TVSM) considers Killwatt as a long-term partner to establish a strong presence in the e-mobility business. To this end, TVSM has obtained a minority stake in Killwatt through its Singapore Subsidiary TVS Motor (Singapore) Pte Ltd, by way of subscription to newly issued shares of Killwatt GmbH."

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