News Article

Govecs Group Acquires Elmoto

Home

MUNICH, Germany – Govecs Group GmbH, which claims to be “The leading manufacturer of electric scooters in Europe”, has bought all assets of the Elmoto e-lightweight motorcycle brand from ID-Bike GmbH. Next to all operations, Munich-based Govecs Group also takes-over the entire Elmoto workforce. The ID-Bike HQ in Stuttgart will be upgraded to become another ‘touch point’ for all Govecs brands.

Govecs Group Acquires Elmoto
One of the Elmoto models. – Photo Elmoto

The Elmoto acquisition allows Govecs Group to expand its product range with more electric two-wheelers. The take-over is said to be consistent with Govecs Group’s strategy of strengthening its position in the high-growth end-user market.

‘Perfect addition’

“We know the Elmoto team for many years. We will benefit from their many years of experience and expertise, especially in research & development and in product design. The Elmoto electric two-wheelers stand for top quality, agility and dashing design; they feature first-rate technology and are a pleasure to ride. That makes them the perfect addition to our existing e-scooter range, which consists of the Schwalbe brand and our GO! series models”, says Govecs Group CEO Thomas Grübel.

Strategic goal

With an eye on the B2B market, Govecs is focusing on business with major Europe-based electric scooter sharing providers such as Cityscoot, Cooltra and Emmy as well as on selling and leasing e-scooters to food delivery services such as Domino’s Pizza, Lieferando and Foodora. With the acquisition of the Elmoto business, the company is pursuing its strategic goal “of becoming one of Europe’s leading companies in the fast-growing B2C market”, is noted in a press release.

B2C focus

Elmoto-maker ID-Bike was founded in 2008 and (like Govecs) is a pioneer within electric two-wheelers. Up to now it has sold over 4,000 electric powered two-wheelers. From now on ID-Bike-COO Sven Holtermann will be in charge of strategic product development at Govecs.

Govecs Group itself set its foot into the European B2C market – the market they are also focusing on with the Elmoto take-over – with its retro lifestyle e-two-wheelers under the cult name Schwalbe, a former East German brand founded by two-wheeler producer Simson in Suhl. For the first quarter of 2019 Govecs plans to launch now a new Elmoto electric two-wheeler named ‘HR4’ – an enhanced version of the current ‘HR2’ model.

By the way: All Govecs Group electric two-wheelers are being sold through the company’s retail platform ‘HappyScooter’. In addition to their existing flagship store in Berlin the Munich-based company plans to open further retail stores in Germany and major European cities.

Comment on this article