TVS buys EGO : Will HERO buy GEO ?
e-Bike’s time has come
Context :
TVS Motor pedals into e-bicycle space with Swiss co EGO Movement buy / BL / 17 Sept 2021
Extract :
TVS Motor Company today announced the acquisition of Switzerland-based electric bicycle company EGO Movement in an ₹132-crore (CHF 16.6 million) all-cash deal.
The two/three-wheeler major’s acquisition signals three broad outcomes.
# First, the company’s intent to become a personal mobility player with a wide-ranging portfolio, including
electric bicycles, which are seen as future mobility products with huge potential
# Second, the acquisition is set to create more visibility for the TVS brand in Europe,
# Third, the acquisition offers the company the scope to further boost its international revenues,
“The e-bike segment has been growing dramatically particularly in Europe and the US. This will come to other markets as well. So, we are super excited about this deal,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
EGO Movement, founded by Daniel Meyer and Marie So, has a wide range of e-bikes, e-cargo bikes, and e-scooters.
Congratulations , Shri Sudarshan Venuji
“ for hitting the nail on the head “
Bicycles do NOT produce any harmful emissions – which make them the PERFECT SOLUTIONS for eliminating Air Pollution caused by ICE vehicles
But, for a travel distance in excess of 5 Km ( one way ), manually-operated bicycles require considerable physical effort. Hence, in Indian cities ( Metros and Mini-Metros ), people who need to undertake journeys longer than 5 km , ( to offices / factories ) , tend to crowd into public transport ( buses / local trains )
But, if given an option of Electrically operated ( motor + removable or rechargeable batteries ) , millions who must undertake long journeys , would happily switch-over to E Bikes ( even a few car owners may start riding e-bikes, if there are dedicated “ bicycle tracks / lanes “ – exclusively for E-Bikes ! It will save them hours of sitting in cars for congested traffic to clear / also easily finding a parking space, close to work-place )
Some 5 YEARS ago, I came across news about Geo Orbital company and sent following e-mail to our Policy Makers and leading Indian Bicycle manufacturers :
Ø A Radical Radial Revolution !.............................
Now, through recent announcement of SHOONYA initiative by NITI Aayog, Government wants ALL last mile “ Urban Cargo Delivery “ vehicles to switch over to electric powered – and within TWO YEARS !
That could well mean, over 1 MILLION 2 / 3 / 4 wheeler petrol / diesel , CARGO vehicles to be scrapped and replaced with ELECTRIC versions – each year, for next TWO YEARS !
With this kind of governmental push, I would not be surprised if one of our major bicycle / motor-bike manufacturers, rushes to buy out Geo Orbital
With regards,
Hemen Parekh / hcp@RecruitGuru.com / 18 Sept 2021
Related Readings :
Ø A Rickshaw by any other Name ?...................... [ 20 Aug 2016 ]
Ø A Sensible Solution………………………………………………. [ 03 Sept 2017 ]
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