TVS Motor Company on Friday mentioned its Singapore-based subsidiary has inked a pact to amass Electric Vehicle (EV) associated know-how and belongings in Germany.
The corporate, by means of its wholly-owned subsidiary TVS Motor (Singapore) Pte Ltd (TVSM Singapore) has signed an settlement to amass the belongings, TVS Motor Firm mentioned in an announcement.
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TVS Singapore will probably be buying the belongings by means of its subsidiary BBT Vermogensverwaltungs GmbH (identify proposed to be modified to Celerity Motor GmbH), it added.
The acquisition will assist strengthen the corporate’s enlargement within the electrical two-wheeler market globally, TVS Motor mentioned.
The corporate, nevertheless, didn’t disclose monetary particulars.
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