TVS Motor Company's subsidiary, TVS Motor (Singapore), had acquired an additional 9.72% stake in Killwatt GmbH for a total consideration of EUR 4 million, whereby EUR 2 million and EUR 1.6 million had been paid on 29 February 2024 and 3 February 2025 respectively. Further, it was informed that the balance EUR 0.4 million will be paid at a later date, subject to the completion of a specific pre-agreed milestone by Killwatt GmbH.
Today, TVS Motor (Singapore), have paid the balance EUR 0.4 million to Killwatt GmbH basis the completion of the specified pre agreed milestone by Killwatt GmbH.
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