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					</table><p>India-based two-wheeler maker <a href="https://www.tvsmotor.com/electric-scooter.html?utm_source=google&amp;utm_medium=DynamicSearchAds&amp;utm_campaign=EDM_TVS_IQube_DSA&amp;utm_content=EDM_TVS_Iqube&amp;gclid=Cj0KCQjwla-hBhD7ARIsAM9tQKsWfQgucAjTYLCGpmuEym2K8VULAboOBn7hCx5eYN1piSi4sORG_14aAokvEALw_wcB" target="_blank" rel="noopener"><u>TVS Motor Company </u></a>said that its Singapore-based subsidiary would purchase a 25% ownership interest in <a href="https://www.killwatt.com/" target="_blank" rel="noopener">Killwatt GmbH</a>, a German startup engaged in manufacturing electric mobility products and components.</p>
<p>The total cost of the acquisition is approximately €2 million (~$2.1 million) and is expected to be completed by April 24, 2023.</p>
<p>According to a regulatory filing, TVS Motor (Singapore) has agreed to purchase 8,500 newly issued common equity shares at a cash consideration of €235.29 (~$281.6) per share.</p>
<p>Killwatt was incorporated on July 3, 2020, and is currently at a pre-revenue stage.</p>
<p>Killwatt’s business includes developing, designing, manufacturing, selling, and distributing high-tech components and products in the electric two-wheeler and three-wheeler vehicle sectors.</p>
<p>The company said it sees potential in Killwatt&#8217;s business model, and the acquisition is consistent with its vision to become a prominent player in the e-personal mobility segment, providing customers with sustainable mobility solutions.</p>
<p>This acquisition is part of TVS Motor’s larger vision to become a leading player in the e-personal mobility space and to provide sustainable mobility solutions to its customers.</p>
<p>The company added that Killwatt would be its strategic and long-term partner to establish a robust foothold in the e-mobility industry.</p>
<p>The acquisition comes at a time when India&#8217;s electric vehicle sector has seen remarkable <a href="https://www.mercomindia.com/ev-sales-clocked-record-one-million-units-2022" target="_blank" rel="noopener">growth</a> of 300% last year, primarily driven by the sales of two and three-wheelers.</p>
<p>In January 2022, the Indian automotive manufacturer <a href="https://www.mercomindia.com/tvs-acquires-stake-swiss-mobility-group" target="_blank" rel="noopener">announced</a> that it had acquired a 75% stake in the Swiss E-Mobility Group (SEMG). The company made the acquisition in an all-cash deal through its Singapore-based subsidiary.</p>
<p>Recently, India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors (EML), <a href="https://www.mercomindia.com/eicher-motors-to-acquire-in-e-motorcycle-firm-for-million" target="_blank" rel="noopener">said</a> it would acquire a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million).</p>


TVS Motor’s Subsidiary Buys 25% Stake in German EV Manufacturing Startup

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