TVS Motor Company has announced that it will acquire 100% of The GO Corporation (GOAG), a Swiss-based company that specializes in e-mobility solutions, including e-bikes and e-cargo bikes. The deal, which involves an additional 8.26% stake purchase for nearly ₹4.85 crore, will make GOAG a fully owned subsidiary of TVS Motor.
GOAG, founded in 2015, is known for providing smart, connected mobility solutions. The company operates mainly in Switzerland and Germany and plans to expand further into the European market. With a focus on innovative designs, GOAG aims to offer a unique customer experience in the rapidly growing electric mobility segment.
In 2023, GOAG posted a turnover of ₹35.96 crore but faced a loss of ₹60.1 crore. The company’s net worth was ₹19.34 crore, and it had previously reported a turnover of ₹37.88 crore in 2022 and ₹24.92 crore in 2021. Despite the losses, TVS Motor sees GOAG as a valuable strategic partner for its long-term plans in the electric mobility sector.
The acquisition is being carried out as a related-party transaction and is expected to be completed by March 31, 2025. TVS Motor believes that this acquisition will strengthen its presence in the growing e-mobility market, where both companies are looking to expand and innovate.