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TVS Announces Investment In Singapore-Based ION Mobility

TVS has stated that it intends to expand its global presence through this partnership
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By Sidharth Nambiar

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1 mins read

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Published on February 3, 2023

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Highlights

  • TVS has entered into an investment agreement with ION Mobility.
  • It aims to expand its global presence through this partnership
  • It also aims to build new products which may or may not make it to Indian shores

TVS Motor Company, the two-wheeler and three-wheeler manufacturer, announced that it has entered into an investment agreement with ION Mobility. ION Mobility is a tech and automotive OEM whose primary products include smart electric two-wheelers. The firm also delivers energy charging and storage solutions for the market.

                                       A two-wheeler sold by ION Mobility

TVS has stated that it intends to expand its global presence through this partnership. The company also plans to support ION Mobility in order to succeed in the electric two-wheeler markets of Singapore and Indonesia. It also aims to build new products which may or may not make it to Indian shores as a result of this association.  

Speaking on the occasion, Mr. Sudarshan Venu, Managing Director, TVS Motor Company said, “TVS Motor is committed to developing exciting products for consumers across global markets. We are thrilled to partner with ION Mobility, a full-stack EV company with a strong team of engineers and technical base in Singapore, to drive the premium electric two-wheeler growth in the region. We share a common vision and are eager to support them as a strategic investor.”

ION Mobility Founder and CEO, Mr. James Chan said, “I am delighted with the vote of confidence that my team and I have received from TVS Motor via the funding round and partnership. We are excited to draw upon TVS Motor’s decades of global expertise in two-wheelers to accelerate our “Mobius” M1-S production readiness, as well as the design and development of other models. We look forward to leading the charge towards an electric & sustainable two-wheeler future together.”

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Last Updated on February 3, 2023


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