Tvs Motor Firm announced the acquisition of a 100% share in BBT 35/22 Vermogensverwaltungs GmbH by TVSM Singapore, a wholly-owned subsidiary of the company, for Euro 25,000.
It is requested that the name of BBT 35/22 Vermogensverwaltungs GmbH be changed to Celerity Motor GmbH. Following the transaction, the acquired company will become a subsidiary of both TVSM Singapore and TV Motor.
The aim of the acquisition is to conduct activities relating to two-wheeler and three-wheeler vehicles, such as research, development, engineering, sales, and service.
TVS Motor Company is a well-known two- and three-wheeler manufacturer worldwide. The company has four manufacturing plants in India: Hosur, Mysuru, and Nalagarh, as well as Karawang, Indonesia.